Stocks were mixed on Wednesday with Wall Street on uncertain footing on when to expect the Federal Reserve to start cutting stimulus.» Read More
Despite predictions that the Dow would be down big, the index posted a triple-digit gain for the second day in a row. So what's the deal?Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
This morning we learned that the FDA has issued another "approvable" letter to Pozen and GlaxoSmithKline for their migraine drug Trexima over safety concerns. POZN shares are down big. The company has scheduled a conference call for 11 a.m. ET. This is the third regulatory stumbling block for this drug and puts it on a timeline now where it could end up competing...
Stocks rose sharply in the final minutes of trading, with the Dow posting a triple-digit gain, as bargain hunters snapped up beaten down shares after credit jitters weighed on the markets all session. "At some point we have to look at the recent downturn as being slightly overdone," Arthur Hogan, managing director at Jefferies, told CNBC.com.
With stocks in rally mode, it's appropriate to drill down for answers as well as take a look at some key sectors.
As the push for universal health care in the U.S. heats up on Capitol Hill, market experts say generic drug stocks and pharmaceutical distributors should perform well, while the hit to big pharma may not be as bad as some anticipate.
Stocks suffer their worst weekly declines in more than four years as worries about credit and lending undermine investor confidence.
A new study shows lowering cholesterol could increase the risk of cancer. The Journal of the American College of Cardiology reports that researchers observed as much as triple the incidence of cancer among patients who lowered their bad or LDL cholesterol using the popular drugs known as statins.
Stocks ended with solid gains on Monday as investors were encouraged by solid earnings reports and the return of brisk mergers and acquisitions activity. "We definitely had a lot of good news today," said Charles Rotblut, senior market analyst at Zacks.com. "I think we definitely could see the Dow at new highs before the week is over."
Corporate takeovers in the tech sector and earnings news were some of the catalysts behind the most actively traded stocks on Monday.
After a disappointing week for big pharma earnings, Merck and Schering-Plough start the second-half of the sector's reporting season with a bang. Both companies beat the Street on the top and bottom lines. Merck also raised its full-year earnings guidance to boot. And investors love it. Look at the huge move in the Dow component.
Schering-Plough on Monday said second-quarter earnings more than doubled, driven by growing demand for its Zetia and Vytorin cholesterol drugs and its treatments for arthritis and allergies.
Mergers and acquisitions and a generous portion of quarterly earnings along with OPEC news is turning the stock market picture back to the plus side after Friday's selloff, though looming in the background are credit market concerns.
Merck said Monday that quarterly earnings rose 12% on strong demand for its newer vaccines and medicines, and raised its 2007 profit forecast, sending its shares up 4%.
With a couple of exceptions the pharma earnings season has failed to impress Wall Street, so far. Take a look at the one week performance of the Amex Pharmaceutical Index versus the Dow. Next week there's no let-up. Right out of the gate on Monday morning Merck and Schering-Plough report.
Continental Chief Executive Manfred Wennemer will have to play the German card to get key support from German unions to buy conglomerate Siemens' automotive electronics unit VDO.
Pfizer Wednesday reported lower-than-expected quarterly earnings on competition with generics, and said global sales of cholesterol fighter Lipitor fell 13% amid slipping demand for the company's flagship product.
Yesterday, I blogged that you should watch the Lipitor number in Pfizer's earnings report today. Well, the world's biggest drug company, is having major problems with the world's biggest-selling drug. Lipitor sales fell a surprising 25% in the U.S. and 13% worldwide in the second quarter. And the company says for the full year revenue from the cholesterol fighter could be down as much as 5%.
The headline might say, "Johnson & Johnson Beats the Street," but investors are looking behind it and that's what is pushing this Dow component down this morning. For example, JNJ says its topline growth would have been just 3.6% instead of 13% if it had not bought Pfizer's consumer health care business last year for $16.6 billion. JNJ is kind of a three-pronged hybrid: pharma, medical devices and consumer healthcare.
Big contract wins and corporate dealmaking were some of the catalysts behind Monday's most actively traded stocks.
Roche has signed a deal worth up to $1 billion with Alnylam Pharmaceuticals, giving it access to the U.S. firm's skills in the new science of silencing genes to fight disease.