Stocks were mixed on Wednesday with Wall Street on uncertain footing on when to expect the Federal Reserve to start cutting stimulus.» Read More
At 12 p.m. ET, shares of Pfizer were trading about 13% lower - largely because the company halted development of torcetrapib--a new cholesterol treatment. The drug was supposed to fill the void when Lipitor--its best-selling drug--loses patent protection in 2010. (Lipitor sales totaled $12.2 B last year.)
Shares of Onyx Pharmaceuticals fell nearly 30% on Monday after data showed that its kidney cancer drug Nexavar did not work in patients with advanced skin cancer.
We told you earlier about the U.S. stock selloff--but they ended up, making comeback and bouncing off their lows of the session. There was that triple digit sell-off late in the afternoon only to see a rally in the last half hour of trading. CNBC's Mary Thompson has all the details in "Eye On The Floor."
Good morning. We're ready to begin what we trust will be a daily visit for all of you. In Play by Play--you'll find the latest interviews as well as breaking news and great stories from CNBC-TV. Even if you caught it on TV--you'll get that much more right here. Let's start with our quote of the day...
Pfizer will likely slash staff and accelerate merger and licensing deals as the pressure on it to improve its financial performance intensified after the weekend's announcement that the company ended development of a key drug.
A record number of U.S. corporate bosses have left their jobs this year, in part reflecting the widening stock options backdating scandal, according to data released today.
Stocks closed mostly lower amid higher oil prices and a surprising decline in Midwest business activity.
Pfizer, the world's largest drugmaker, raised its earnings guidance for the year and promised a number of late stage products out of its pipeline in the coming years.
NASCAR ain’t just whistling Dixie: It’s alive and kicking all over America. CNBC’s Darren Rovell proved it in Times Square, where he spoke to some of the racing association’s biggest names. Top drivers toured New York City streets for the fourth straight year, garnering applause while reconfirming the auto sport’s rising popularity beyond its Southern roots.
Pfizer said Tuesday it will trim its U.S. sales force by 20% as part of an ongoing review process announced in October.