The revelation that two of Bear Stearns' collateralized debt obligation funds are virtually worthless are casting a pall on the overall market this morning. The biggest factor with the subprime prime epidemic is the great unknown of exposure and containment.
The Final Table of the World Series of Poker begins today at 3 p.m ET. You can order it on ESPN.com for $19.95 and watch it live if you want. I’m not going to talk about specific names, so there’s no need to turn away if you don’t want to know who made it the finals. Enough of the disclaimers. Now let’s get to the point.
Johnson & Johnson Tuesday said second-quarter profit rose on higher sales of medical devices and prescription drugs, beating Wall Street expectations on especially strong demand in overseas markets.
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.
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.
Market pros will be looking closely at the tech sector in the upcoming earnings season, but for investors seeking a quick pop, they need look no further than the energy sector as oil prices remain at record levels.
Stocks closed sharply lower as bond yields rose and higher oil prices sent energy shares tumbling. The Dow Jones Industrial Average finished down nearly 150 points. "Some traders feel the price of oil was a factor today," Peter Costa, senior managing director at Lipari Partners, told CNBC.com.
Pfizer said after markets closed Wednesday that U.S. health regulators will approve its novel AIDS drug called maraviroc once certain conditions have been met, although the world's biggest drugmaker did not elaborate on what was necessary to obtain an outright approval.
A U.S. judge on Tuesday ruled that the patent on the multibillion-dollar blood clot-preventing drug Plavix is valid, handing a major victory to Bristol-Myers Squibb and Sanofi-Aventis.
Today's the day! Wal-Mart starts selling the first FDA-approved, over-the-counter weightloss pill today. GlaxoSmithKline says Alli should be on drugstore and discount store shelves everywhere by tomorrow. Alli is the diet pill that can have embarrassing gastrointestinal side effects. Coincidentally, the launch occurs the day after an FDA Advisory Committee shut out Sanofi-Aventis' weightloss pill Zimulti.
Without patents or pipeline, drug companies just don't have the growth investors crave anymore. Cramer tells you who to avoid.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.
Recent downside moves in the stock market are not likely over, market pros said, but the long-term outlook on equities remains positive.
As Congress, the FDA and the drugmakers wrestle with what appear to be impending warnings about the safety of Avandia, investors are wrestling with estimates of the collateral damage to this multi-billion dollar GlaxoSmithKline franchise. Some say it's the next Vioxx and that investors have priced into the stock a high likelihood that GSK will eventually pull the drug from the market. Others compare it to what happened with Pfizer's painkiller Celebrex in the wake of the Vioxx withdrawal.
A roundup of the most actively traded biotech and pharma stocks following the annual American Society of Clinical Oncology conference in Chicago.
After another record-breaking week, stocks may face some minor pullbacks before moving even higher, many market pros say. "I think there's a credible possibility that we could hit some bumps in the road in the summer, but right now we're in the perfect storm," Arthur Hogan, managing director at Jefferies, told CNBC.com.
What’s the biggest event of the year for biotech and big pharma? It’s the 43rd ASCO Annual Meeting where drug companies present new research that could indicate whether their cancer drugs are blockbusters or duds. It starts this Friday night in Chicago - what should you expect?
As I prepare our coverage on Monday for ASCO--the American Society of Clinical Oncology Annual Meeting--it is easy to get lost in the mind-numbing amount of data, caught up in the battles we've been drawn into with ASCO media relations and one company, in particular, that shall remain unnamed, the controversy over the ASCO data distribution policy and all of the volatility in certain stocks. But cancer touches all of us. And my family is no exception.
Cramer takes a call from a soldier serving in Iraq. Plus, Novastar, Marriott, Nastech and more...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.
All week, Cramer's broken down the Dow stock by stock to show Home Gamers how the index should climb another thousand points before the year is over. 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.
Big pharma analysts keep close tabs on prescription trends. Many of them issue weekly reports to clients about what's up, what's down, what's holding steady. Investors use the data as a leading indicator for what quarterly sales and profits might look like. So, check out what A.G. Edwards' Joe Tooley is writing in his most recent "Weekly Prescription Trends" report.Tooley titles it, "Lipitor Continues to Decline, Can Simvastatin (the generic version of Zocor) Surpass It?"