NEW YORK— U.S. stocks slumped Monday, and banks took the biggest losses. Deutsche Bank hit an all-time low as investors worried about the financial health of Germany's largest bank. Pfizer pulled drugmakers down after it announced it won't break up into two companies.
Deutsche Bank AG, down 90 cents to $11.85. Pfizer Inc., down 62 cents to $33.64. Germany's Lanxess agreed to buy the specialty chemicals maker in a deal the two companies valued at $2.5 billion.
The "FMHR" traders and Jim Cramer discuss Disney, Lockheed Martin and more.
Deutsche Bank's U.S.-listed shares slumped 7 percent Monday after a report that the German government won't intervene with U.S. officials who are pressing the bank to pay $14 billion in fees over mortgage securities. Drugmakers also fell after Pfizer said wouldn't split up into two companies, as many had hoped. Goldman Sachs slumped 2 percent, the biggest drop...
TRENTON, N.J.— Drug giant Pfizer says it won't split into two publicly traded companies, despite pressure from investors frustrated by its lagging stock price, ending years of Wall Street speculation over its strategy and future. Pfizer has said it spent $600 million on preparations for such a split. As a result, Pfizer has been reporting detailed financial...
U.S. drugmaker Pfizer said on Monday it had decided not to separate into two publicly traded companies at this time.
Deutsche Bank plunged as investors worried about the financial health of Germany's largest bank. Pfizer pulled drugmakers down after it announced it won't break up into two companies. European banks tumbled after the German magazine Focus said Deutsche Bank won't get a government bailout if it asks for one.
The cost of naloxone has spiraled upwards, even as the drug has become more desperately needed to reverse overdoses.
NEW YORK— Pfizer expects to complete its $14 billion buyout of cancer drug developer Medivation in the third quarter following the expiration of a regulatory waiting period. The New York drugmaker has agreed to pay $81.50 per Medivation share, which marked a 21 percent premium to San Francisco- based Medivation's closing price when it was announced in August.
U.S. stocks closed higher on Thursday, with the Nasdaq having another record-setting session.
Last quarter saw a significant decline in the number of companies making such large repurchases.
Jim Cramer spoke with Allergan CEO Brent Saunders on why the company will not engage in price gouging, and its latest acquisitions.
The overseas cash stash continues to swell, with only scant hope of it being brought back home as Washington continues to debate repatriation.
So far, only one biosimilar is available in the U.S., a Novartis drug called Zarxio that's a copy of Amgen's Neupogen, for preventing infections in people getting chemotherapy or radiation treatment. By comparison, more than 20 biosimilar versions of seven biologic drugs are available in Europe. Late last month, FDA approved Novartis's Erelzi, a near-copy of...
Some of the names on the move ahead of the open.
A serious warning on Pfizer's quit smoking drug should be removed, panelists to the U.S. Food and Drug Administration recommended on Wednesday.
These are the stocks posting the largest moves after the bell, including Apogee, Twitter and Wells Fargo.
Shares of Allergan jumped after announcing it would buy drug developer Vitae Pharmaceuticals for about $639 million.
After turning down Mylan's $26B offer, shares of Perrigo have lost almost half their value.
Two industry insiders say Mylan pays no more than $30 per device, NBC News reports.