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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.
The Dow rose Tuesday in another turbulent session after a pullback in oil prices eased worries about consumer and business spending. What's the "Word on the Street?"
At the risk of being ganged up on by the "Elanians" who will take umbrage with the fact that the biopharma team at Cowen and Company is not initiating coverage of the Irish drugmaker with a "screaming buy," I am blogging about the analysts' 50-page call on the stock today.
Shares of Merck, which have lost more than a third of their value so far this year, are under continued pressure this morning. They were at 60 bucks in early January. Today they're trading around $37. Big pharma analyst Rupesh Patel at UBS is downgrading the Dow component from Buy to Neutral because he thinks it's gonna be "range-bound near-term"...
Stocks moved out of bear territory Monday as oil retreated more than $4 a barrel, easing inflation fears, and technology got a boost from two of its largest companies.
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Stocks ended mixed Monday, capping a dismal quarter and first half marked by rocketing oil prices and battered financials. The Dow is down 14 percent since the beginning of the year and ended the first half about 20 points from bear-market territory.
After hours Morgan Stanley recommended investors buy Lehman Brothers stock and set a price target of $31. What's the "Word on the Street?"