U.S. stocks closed sharply lower as investors weighed concerns over the implications of the Fed's decision to keep short-term rates unchanged.» Read More
The average bear market shows a decline of 30%, but then has an average 30% plus bounce when the bottom is reached. We are off more than 20% so it's possible the end is in sight.
Yesterday while covering the press conference about the new study on Merck and Schering-Plough's Vytorin I quoted the lead researcher, Dr. Terje Pedersen of Ulleval University Hospital in Oslo, Norway, who said--and this is a direct quote: "However, we had a disturbing finding when we looked at safety."
Based on the action after hours it looks like a rough open on Tuesday. What's the "Word on the Street?"
Stocks slipped as the bank rally that has stretched four sessions appeared to run out of steam ahead of Wachovia's report. Merck fell following disappointing results from a cholesterol-drug study.
Schering-Plough, whose shares fell earlier after its Vytorin cholesterol fighter failed another study, said its earnings fell 23 percent but beat forecasts.
Merck on Monday said it was not providing long-time financial forecasts as it assesses the impact of another failed study result for its Vytorin cholesterol fighter, which it produces with Schering Plough.
1) American Express reported a notable miss ($0.56 vs. expectations of $0.83), and it's not hard to see where the bulk of the miss came from. a $600 million ($374 after-tax) addition to U.S. lending credit reserves.
Vytorin, a cholesterol drug marketed by drugmakers Merck and Schering-Plough, failed to meet the main goals in a new study, released Monday.
Stocks slipped as the morning bank rally fizzled. Merck fell following disappointing results from a cholesterol-drug study.
Stocks slipped as the bank rally that has stretched four sessions appeared to fizzle ahead of Wachovia's report. Merck fell following disappointing results from a cholesterol-drug study.
The buyout offer from Swiss drug giant Roche has shares of DNA trading at their highest level in about two-and-a-half years and according to CNBC stock-stat maven, Robert Hum, if they close up at least 8.88% it'll be their biggest one-day percentage gain since April 15, 2005.
Gains in financial stocks lifted European shares on Monday as markets cheered Bank of America's stronger-than-expected quarterly results, while declines in Roche offset some of the gains.
Stocks advanced, led by a fourth straight rally in bank stocks after Bank of America beat expectations. News of a potential pharma deal also gave the market a boost.
Merck and Schering-Plough delayed the release of their quarterly financial results so investors could first learn the outcome of a new study of their Vytorin cholesterol fighter, and both drug makers' shares fell on jitters about the impending trial data.
European stocks were set to inch higher on Monday, extending a three-session rally, as investors brace for a flurry of corporate earnings from U.S. bellwethers such as Apple , Merck and Bank of America.
A few weeks ago I blogged about a couple analysts cautioning investors that shares of Irish drugmaker Elan would be volatile surrounding the Alzheimer's conference the end of this month.That has certainly proven to be the case, especially today as the second firm this week initiates coverage of the stock, but this time with a "Sell" rating.
Big pharma makes strange bedfellows. Pfizer, Merck and Eli Lilly this morning announced they've launched a joint venture of sorts called, "Enlight Biosciences". They're doing it with the help of the Boston-based VC firm PureTech Ventures.
The S&P closed 20% below its all-time high set in October, making it the last of the three major U.S. stock indexes to fall into a bear market. What's the "Word on the Street?"
One day does not a full-fledged sector rotation make, but yesterday the big pharma stocks put on a show and in the early going today the curtain hasn't fallen. Pfizer even broke above 18 bucks!
Cramer sounds off today with viewer calls on these topics: taking a slightly more bullish look at Stryker and Zimmer Holdings , both which may have been unfairly penalized by federal investigations that are behind them now; Merck being priced lower than its worth due to negative articles about Gardasil and in his opinion is still a definite Buy; knowing when to "ring the register" and take profits when you can without fearing taxes; and one more nice healthcare Buy: Masimo, a med tech company using innovative, non-invasive technology to monitor important health indicators, like blood oxygen, carbon monoxide and hemoglobin.