Results with Alnylam Pharmaceuticals and Medicines Co's experimental product ALN-PCSsc highlight the competition for a market tipped to generate billions of dollars in sales. Amgen's Repatha and a rival product, Praluent, from Sanofi and Regeneron Pharmaceuticals, are each expected to generate more than $2 billion a year in sales by 2020, according to...» Read More
EASTPOINT, Fla.-- Florida's oyster industry appears near collapse and needs help to survive, including getting more fresh water into Apalachicola Bay from Georgia, Gov. Rick Scott said Wednesday in pledging to try to help.
Rick Scott says the state's oyster industry appears near collapse and needs help to survive. He says that includes getting more fresh water coming into Apalachicola Bay from Georgia. Florida has battled for years over the amount of water coming downstream from Georgia.
PHILADELPHIA-- Candy maker Hershey is vowing to use only certified cocoa for all of its chocolate products by 2020 and accelerate programs to help eliminate child labor in the cocoa-producing regions of West Africa.
The battle over Proposition 32 on the November ballot follows conflicts in Wisconsin, Ohio, Indiana and elsewhere where efforts to dilute the strength of organized labor have produced political tumult, a flood of TV ads and widespread demonstrations.
ATLANTA-- Loan servicing company Ocwen Financial Corp. said Wednesday that it is buying Homeward Residential Holdings Inc. in a $750 million deal. Ocwen is buying the loan servicing company from private equity firm WL Ross& Co. LLC for $588 million in cash and $162 in Ocwen convertible preferred stock.
NEW YORK-- 3 M Co. is ending its effort to buy Avery Dennison Corp.' s office and consumer products business, which would have given the company a huge portion of the U.S. labels market to go with its Post-It sticky notes business. 3 M agreed to buy the business in January for $550 million.
NEW YORK-- Orthopedic device maker NuVasive Inc. forecast disappointing third-quarter revenue on Wednesday, and its shares plunged in after-hours trading. NuVasive said it expects about $147 million in revenue in the third quarter. Shares of NuVasive dropped $5.63, or 24.9 percent, to $16.99 in late trading.
PUMPED UP: Refinery and pipeline problems have shrunk gasoline supplies and driven up prices on both coasts. DOWN THE ROAD: Analysts predict average prices will be $3.50 per gallon or lower by Thanksgiving for most of the country. On the West Coast, the price is expected to be closer to $4 per gallon.
On Aug. 22, about a week after the FDA inspections, Chamberlain Farm Produce announced it had voluntarily recalled all of its cantaloupes due to concerns that some might be tainted with salmonella.
FORT WORTH, Texas-- American Airlines is making a peace offering to its pilots as the two sides resume contract talks. The changes could amount to "a few percentage points" of pay for about one-third of the union's members, said Allied Pilots Association spokesman Gregg Overman. AMR Corp.' s American Airlines and the union agreed to resume contract talks this week.
CONNECTED: T-Mobile and MetroPCS have agreed to combine their struggling cellphone businesses in a deal aimed at letting them compete better with their three larger rivals. MetroPCS shareholders will own the rest. :The combined company will stay No. 4 among U.S. wireless carriers behind Verizon Wireless, AT&T and Sprint Nextel.
CLEARED FOR TAKEOFF: A federal appeals court overturned a ruling that would have blocked a union election for passenger-service agents at American Airlines. The Communications Workers of America wants to represent them in contract bargaining with the company. National Mediation Board, 12-10680 at the 5th U.S. Circuit Court of Appeals in New Orleans.
Las Vegas resident Chad Elie, 32, was sentenced by U.S. District Judge Lewis A. Kaplan, who also ordered him to forfeit $500,000. The judge rejected a recommendation by the federal Probation Department that Elie be sentenced to probation, six months of home confinement and community service.
CHECKING IN: Marriott turned a better-than-expected profit despite a slow global economy in the third quarter on higher prices and strong occupancy rates across its brands. Marriott said higher occupancy rates led to less last-minute discounts, which help boost rates.
PHOENIX-- The city of Phoenix and a developer who was poised to demolish a Frank Lloyd Wright- designed home have reached an agreement that will put any work on hold while a search continues for a buyer, a city official confirmed Wednesday.
NEW YORK-- The Clinton Group Inc., which is in a proxy fight with Wet Seal Inc., said Wednesday that the retailer has reneged on an offer to give up majority control of its board. However the Clinton Group said that Wet Seal's banker contacted the firm on Tuesday and said "It appears you have won".
Motorists in California paid an average of $4.232 per gallon Wednesday. That's 45 cents higher than the national average and exceeded only by Hawaii among the 50 states. Prices in New York, Connecticut and New Hampshire are at or near highs for the year.
SUMMIT, N.J.-- Celgene Corp. said Wednesday that a Food and Drug Administration panel will not review its multiple myeloma drug pomalidomide in November. Celgene said in September that the FDA's cancer drug advisory committee would discuss the drug at a meeting on Nov. 8. Shares of Celgene rose 57 cents to close at $78.99.
NEW YORK-- Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:. A Citi analyst maintained his "Buy" rating on the homebuilder's stock and raised his price target to $25 from $19 on margins.