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Stocks advanced, boosted by a further drop in oil following the inventory report and expectations that the House would pass the Fannie Mae-Freddie Mac rescue plan.
After the close, Washington Mutual reported earnings notably below expectations. The bad news is that there is more credit deterioration, which is creating more provisions for losses. The good news is the company felt they had "sufficient capital", with $40 b of available liquidity at the end of the quarter, and that 2008 would be the peak year of loss provisioning.
Pfizer Wednesday said quarterly earnings more than doubled on higher sales of its prescription drugs and lower expenses, but its Chantix quit-smoking drug lost more than a third of its U.S. sales amid safety concerns.
Oil's trend lower has whipped up buying in stocks and could do the same Wednesday, if a string of major blue chips' earnings don't disappoint before the opening bell.
If only Merck could develop a treatment for this malady...
Foreign companies are buying American companies and the CEO of Home Depot comments on the economy. Following are today's top videos:
Vytorin, a cholesterol drug marketed by drugmakers Merck and Schering-Plough, failed to meet the main goals in a new study, released Monday.
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.
This week, with quarterly losses expected from Wachovia and Washington Mutual due to defaulting mortgages, the market will also get data on existing home sales and new home sales.
I am out in the field today shooting a story in Boston for the upcoming big Alzheimer's meeting the end of this month. But I wanted to pass along this nugget dug up by Pharmalot's Ed Silverman: The Pfizer Exec And The $300K Helicopter Bill.
How does a five-star fund manager approach investing when uncertainty is high? Edward Perks offers advice -- and stock picks.
To give investors an edge, CNBC asked the experts for their best stock picks now.
More than ten years after Pfizer brought Viagra to market and brought erectile dysfunction out of the closet a new survey says a lot of men are still too embarrassed to talk about impotence with their doctor.
Actually, no. Too bad Chris Cox doesn't know that.
Johnson & Johnson Tuesday posted second-quarter earnings that beat Wall Street expectations, as strong demand for its medical devices and consumer products overshadowed negligible growth of prescription drugs.
Genentech earnings fell short of analysts' expectations, but the company's shares rose slightly in extended trading as the firm lifted its profit forecast for the full year.
Like so many people who knew Bobby Murcer or were fans of his, I was so sad to hear the news that he had passed away. I didn't know the man. And I only have vague childhood memories of then-Dodger Stadium announcer John Ramsey saying, "Bobby Murcer", when the "Yankee for Life" was playing for the Giants and Cubs at Chavez Ravine.
Fearing the two largest U.S. mortgage finance companies need a government bailout, investors pushed stocks lower Friday. What's the "Word On The Street?"
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?"