What follows is a roundup of corporate earnings reports for Thursday, Feb. 4.
I'm on my way back from the JPMorgan Healthcare Conference in San Francisco. Oh, it's still going on for another day-and-a-half or so, but two days is about all I can take.
I'm gonna avoid all the cliches about JPM being the Super Bowl of investment conferences or the grandaddy of them all. As of earlier this week, JPM says 6,500 people are expected to attend (down slightly from last year,) more than 330 public and private companies are presenting and more than 7,500 so-called one-on-one meetings between analysts/investors and execs have been scheduled. Plus, a whole bunch of other meetings take place on the down low all over the city.
Talk about a blow to the ego. The shares may have since succumbed to the downdraft in the overall stock market, but when trading opened this morning Biogen Idec shot up around two percent. Investors were reacting to the news that the company's longtime CEO, Jim Mullen, is calling it quits.
A late rally helped propel the Dow to a positive finish Monday as financial stocks rebounded.
Stocks erased all of their gains Monday after an early surge due to a better-than-expected manufacturing report. Financials led the decline.
Over the past few days there's been a remarkable confluence of newsflow, most of it positive, out of biopharma. First the bad news.
The Dow shot up more than 100 points Monday after a report showed manufacturing expanded more than expected last month.
Stock futures pointed to a modest rebound ahead of the open Monday after the Dow and the S&P 500 experienced their biggest one-day percentage drops Friday since July 2.
There’s still a week-and-a-half left in the month, but the markets are currently maintaining yet another month of gains.
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Dr. Mark Monane, senior biotech analyst at Needham & Co., named some biotech stocks that look attractive.
Stocks surrendered earlier gains and fell modestly on Tuesday largely due to fresh worries that major banks may need to raise more money.
Stocks traded only modestly lower Tuesday, despite concerns that if major banks need to raise more money a financial hurricane may be brewing.
Cramer makes the call on viewers' favorite stocks.
CNBC's "Power Lunch" team asked some of the best and the brightest from America's big financial firms to list the most promising stocks. Strategists from Citigroup, Goldman Sachs, Cowen & Co. and Deutsche Bank offered CNBC their stock picks.
During his lunchtime keynote speech here at the JPMorgan Healthcare Conference JPM Chairman and CEO Jamie Dimon was asked to give his worst-case scenario for the economy. He said that'd be a 1982-type recession lasting about two years and with unemployment "North of 10 percent." Dimon said it would be "Irrational to not be prepared for that."
Will M&A activity boost biotech stocks in 2009?
Drug pricing pressure under a Democratic administration be darned. $75,000. That's not a salary figure. That's the price one biotech analyst says Vertex Pharmaceuticals and its partner Johnson & Johnson might be able to charge--possibly even more--for their Hepatitis C drug.
Plus, Cramer make the call on IBM, CSX, Celgene and more.