The FDA is routinely criticized for being a poor steward of drug research and pharmaceutical side effects. The agency proved once again why much of the criticism is justified.
The FDA today said that two drugs, each of which has been on the market for many years, react badly when taken together. It is a wonder it took so long to figure this out since each of the drugs is very widely used. Read More
Bristol-Myers Squibb Company (NYSE: BMY) is going to completely separate itself from its holdings in Mead Johnson Nutrition Company (NYSE: MJN). The company expects that the split-off will be a tax-advantaged way to divest these holdings and is expected to be net cash flow positive to the BioPharma business and is expected to be accretive to earnings per share beginning in 2010. Mead Johnson has had one unbelievable year. This came public in February and traded as low as $25.72 after the IPO. Shares closed at $45.25 on Friday.
Read More
Reuters: The Ohio Attorney General is suing a number of Wall St. firms.
Reuters: GM will start to repay part of its debt to the US.
Reuters: Citigroup (NYSE:C) will sell Bellsystem to Bain.
Reuters: Japan’s GDP numbers were leaked. Read More
There are a number of ways to rank brand values. One of the most important is the level at which a brand contributes to the market value of a public company.
24/7 Wall St. asked Corebrand, the brand research and consulting firm, to look at the top 100 brands based their contribution to market capitalizaton. Using this method, the hardest working brand was Hershey (NYSE:HSY), followed by Coca-Cola (NYSE:KO) and Harley-Davidson (NYSE:HOG)
Corebrand described the process briefly to 24/7 Wall. St.
24/7 Wall St.: Corebard often refers to the brands on this list as the”hardest working brands”. How did you come to that description?
Corebrand: There are a lot of people measuring and examining the “strongest brands” or the “most valuable brands”. Our opinion is that examining one without the other is somewhat meaningless. How “strong” a brand is nice to know but not very relevant unless you understand how that strength benefits business. Similarly, “value” is little more than a measure of corporate size unless you understand the drivers of that value and how to influence it. By examining the strength of the brand and it’s contribution to total market value, we can help companies and their leadership manage that strength and value over time.
24/7 Wall St.: Is there any advantage or disadvantage to having a brand value be a very large percentage of market cap in the present and as an indication of a company’s future performance?
Corebrand: The brand will need to be in balance with the rest of the company’s assets. A company should strive to have it’s brand strong enough to fend off competitors or changing market conditions but not so strong that it becomes overly dependent on the brand as a single driver of value. If a company can achieve and maintain its appropriate maximum strength without becoming over-dependent, it will see greater returns in bull markets and retain greater value in bear markets.
The list: Read More
These are the top early-bird analyst upgrades and positive research calls which we have seen from Wall Street early this Monday morning:
Advanced Micro Devices (NYSE: AMD) Raised to Buy at UBS.
Amgen (NASDAQ: AMGN) Raised to Buy at UBS.
Black & Decker (NYSE: BDK) Started as Overweight at Barclays.
Bristol-Myers Squibb (NYSE: BMY) Added to Goldman Sachs Top M&A List.
Citrix Systems (NASDAQ: CTXS) Raised to Hold at Jefferies.
Kroger (NYSE: KR) Raised to Overweight at JPMorgan.
Mastercard (NYSE: MA) Raised to Outperform at Credit Suisse.
PG&E (NYSE: PCG) Raised to Buy at Jefferies.
Polaris (NYSE: PII) Raised to Buy at Citigroup.
Symantec (NASDAQ: SYMC) Raised to Buy at Jefferies.
Visa (NYSE: V) Raised to Outperform at Credit Suisse.
VMware (NYSE: VMW) Raised to Hold at Jefferies.
You can join our open email distribution list to get updates each morning on analyst upgrades and downgrades, top day trader alerts, IPO’s and secondary offerings, Warren Buffett and other guru activity, M&A and more.
JON C. OGG
These are this Friday morning’s top Wall Street analyst upgrades and positive research calls:
AK Steel (AKS) Raised to Buy at Deutsche Bank.
Bristol-Myers (BMY) Started as Outperform at Wells Fargo.
Cree (CREE) Started as Overweight at JPMorgan
J.P. Morgan (JPM) Started as Strong Buy at Raymond James.
Lam Research (LRCX) Raised to Outperform at Credit Suisse.
Marriott (MAR) Raised to buy at BofA/Merrill Lynch.
Research in Motion (RIMM) Raised to Outperform at R.W. Baird.
Savient Pharma (SVNT) Raised to Outperformat Oppenheimer.
Spectra Energy (SE) Raised to Conviction Buy List at Goldman Sachs.
Viacom (VIA) Raised to Overweight at Piper Jaffray.
You can join our open email distribution list to get updates each morning on analyst upgrades and downgrades, top day trader alerts, IPO’s and secondary offerings, Warren Buffett and other guru activity, M&A and more.
JON C. OGG
October 9, 2009
Reuters: The best investment for Chinese companies may be the nation’s own 1.3 billion person home market.
Reuters: Japan’s Democrats took power.
Reuters: Economists say there is no need for a second stimulus package.
Reuters: The Fed made $14 billion on loans made during the credit crisis. Read More
These are this morning’s top pre-market analyst upgrades, downgrades and initiations from Wall Street early this Friday:
Barrick Gold (ABX) Started as Hold at Jefferies.
Becton Dickinson (BDX) Started as Overweight at Jefferies.
Bristol-Myers Squibb (BMY) Cut to Equal Weight at Morgan Stanley.
Cedar Fair (FUN) Cut to Hold at KeyBanc.
J. Crew (JCG) Raised to Buy at Citigroup; Raised to Hold at Needham..
Newmont Mining (NEM) Started as Buy at Jefferies.
Network Engines (NENG) Raised to Buy at Cantor Fitzgerald.
Sanofi-Aventis (SNY) Raised to Overweight at JPMorgan.
Zoltek (ZOLT) Started as Hold at Deutsche Bank.
JON C. OGG
These are this morning’s top day trader alerts and most active in price and volume. We have more detailed analysis and data on price and volume with links through to each at VSInvestor.com:
JA Solar Holding Co. (NASDAQ: JASO) is down close to 10% after poor results.
Garmin Ltd. (NASDAQ: GRMN) is down over 5% on a key analyst downgrade.
YRC Worldwide, Inc. (NASDAQ: YRCW) was down over 7% on an analyst downgrade.
Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ) was up almost 20% on an unexpected profit.
Medarex Inc. (NASDAQ: MEDX) is seeing very unusual merger arb volume after the Hart-Scott-Rodino merger review period for the Bristol-Myers Squibb (NYSE: BMY) buyout has expired.
Petroleum Development Corporation (NASDAQ: PETD) is down 5% and will be an exponential volume mover on the secondary offering.
Toll Brothers (NYSE: TOL) has some sales gains data that is strong enough to lift the SPDR S&P Homebuilders (NYSE: XHB).
This was not seen until a post-close review, but Broadcom Corp. (NASDAQ:BRCM) was seeing some very unusual PUT OPTIONS TRADING yesterday.
JON C. OGG
AUGUST 12, 2009
Diabetes is becoming an epidemic in the U.S. and the Western World. The ties to obesity are often direct, so the potential treatments are often directly tied as well. We did a recent dig down for the next $170 billion opportunity for eight different major diseases and conditions, and now we have conducted a much deeper dig down specifically in the field of diabetes over at BioHealthInvestor.com. We have recent and upcoming FDA action and data being presented from Novo Nordisk (NYSE: NVO), MannKind Corp. (NASDAQ: MNKD), Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN), Eli Lilly (NYSE: LLY), Alkermes Inc. (NASDAQ: ALKS), Bristol-Myers Squibb (NYSE: BMY) and AstraZeneca (NYSE: AZN). There is a mini-race going on between some of the later stage studies from obesity and diabetes candidates from Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), VIVUS, inc. (NASDAQ: VVUS), Orexigen Therapeutics, Inc. (NASDAQ: OREX) and Amylin Pharmaceuticals Inc. (NASDAQ: AMLN). Geron Corporation (NASDAQ: GERN) and StemCells Inc. (NASDAQ: STEM) were noted as two of the stem cell hopes, although stem cells may later rather than sooner.
Generex Biotechnology Corporation (NASDAQ: GNBT), Spherix Incorporated (NASDAQ: SPEX) and Oramed Pharmaceuticals Inc. (OTCBB: ORMP) were all noted in the much smaller or emerging plays. Home Diagnostics, Inc. (NASDAQ:HDIX) and Insulet Corporation (NASDAQ: PODD) have both recently had key events as the interest in test equipment companies continues to remain high.
FULL STORY with much more detail at BioHealthInvestor.com.
Bristol Myers Inc. (NYSE: BMY) plans to spend $2.4 billion to buy partner Medarex Inc. (Nasdaq: MEDX). It will get a great deal beyond the cancer monoclonal antibody that developed together.
The Medarex pipeline has substantial value.
The monoclonal antibody ipilimumab is by far the main reason that Bristol pulled the trigger. It is currently in Phase III trials for both metastatic melanoma and hormone-refractory prostate cancer. Read More
Reuters: Obama says healthcare reform is essential to the recovery.
Reuters: CIT (CIT) bond advisers will push for Chapter 11.
Reuters: Democrats will fight with banks on consumer agency.
Reuters: Amazon (AMZN) bought Zappos for $829 million.
Reuters: Porsche approved Qatar talks and fired its CEO.
Reuters: Bristol-Myers (BMY) bought Medarx (MEDX) for $2.4 billon. Read More
Safety and efficacy data are critical to drug candidates. But what really makes a potential drug attractive is strong top-line data, a new biotech-based treatment, and a massive potential market.
With help from Thomson Pharma and our own backlog of coverage, BioHealthInvestor.com, a 247wallst.com website, sought to find the most promising biopharmaceutical candidate from both biotech and pharmaceutical companies in each of the top 10 most prevalent medical conditions in the U.S. Read More
Here are some of today’s top stories affecting key drug and biotech stocks, accompanied with links through to more detailed information and analysis at BioHealthInvestor.com:
New short-interest data suggest traders are now increasing their directional bets against biotech stocks. Pfizer Inc. (NYSE: PFE) and Merck & Co. (NYSE: MRK) are in the top 10 of all large-cap stocks with the greatest increase in the number of shares shorted.
Eli Lilly has the FDA’s OK to market its Effient blood thinner, but the black-box warning on its label is so strong that it’s hard to believe it can dent the market share of the Sanofi Aventis (NYSE: SNY)/ Bristol Myers Inc. (NYSE: BMY) drug Plavix.
OSI Pharmaceuticals Inc. (Nasdaq: OSIP) announced new data from its Phase III Saturn study of Tarceva, and it’s likely an incremental positive for the cancer drug over rival Eli Lilly & Co.’s (NYSE: LLY) drug Altima.
-The 24/7 Wall St. Team
Reuters: China must balance growth and reducing greenhouse gases.
Reuters: The Supreme Court has delayed Chrysler’s Chapter 11.
Reuters: The US will allow 10 banks to repay TARP funds.
Reuters: The Boston Globe (NYT) union rejected pay cuts.
Reuters: Auto suppliers are seeking new government aid.
Reuters: The US bailout panel wants more bank stress tests. Read More
Reuters: GM (GM) will file for Chapter 11 today.
Reuters: Geithner told China its dollar assets are safe.
Reuters: A judge approved the sale of most of Chrysler’s assets to a group led by Fiat.
Reuters: German cut a deal to save Opel.
Reuters: Private equity firm KKR lost $1.8 billion last year.
Reuters: Elan is in talks to sell a stake to Bristol-Myers (BMY).
Reuters: China’s economy is stabilizing and exports moved up slightly.
Reuters: The Fed is puzzled by the steepening of the yield curve.
WSJ: Ford (F) will increase production next quarter in an attempt to take business from its rivals.
WSJ: “Lawmakers are pressing the Treasury Department to close a loophole to protect Social Security and disability benefits deposited in bank accounts from creditors.”
WSJ: Emulux is expanding its push to prevent a takeover by Broadcom (BRCM).
WSJ: Merck (MRK) and AstraZeneca are testing a new experimental cancer drug.
WSJ: Geithner urges China to open its economy.
WSJ: Emerging nations are increasing demand for key resources.
WSJ: The Fed’s attempt to keep mortgage rates low is not working well.
WSJ: The IMF expects jobs to trail GDP growth.
WSJ: The demand for oil is staying low.
WSJ: Weak demand for electricity could help consumers this summer.
WSJ: Foreclosures are having a mixed impact on sales.
WSJ: Temasek Holdings may sell its holding in Chartered Semiconductor.
WSJ: Losses at homebuilders are expected to narrow.
WSJ: International markets are at the center of the new stock rally.
WSJ: The ISM data may not show a sharp recovery in the economy.
WSJ: Improving results at banks are sending them on hiring sprees.
WSJ: Commercial real estate will be a drawn-out problem for banks.
WSJ: Retailers are felling the impact for foreclosures.
NYT: The Big Three are no longer in a position to help bring the economy out of a recession.
NYT: The battle for trading derivatives is at the heart of how much regulation of the banks is too much.
NYT: Google (GOOG) will take on Amazon (AMZN) in the e-book business.
FT: Microsoft (MSFT) and Sony (SNE) are taking aim at the market share of the Nintendo Wii.
FT: A new reports says that the rebound in stocks cannot be sustained.
FT: The US energy markets are bracing for hurricane season.
Bloomberg: Goldman Sachs (GS) says commodity demand will produce a 19% return this year.
Douglas A. McIntyre
We have compiled an updated lengthy 2009 American Society of Clinical Oncology, or ASCO, document showing many company cancer data presentations slated to start this weekend. This is broken down in drug and biotech companies with share values, ranges, and recent developments for the following drug and biotech companies: Abraxis BioScience, Inc. (NASDAQ:ABII), AEterna Zentaris Inc. (NASDAQ: AEZS), Allos Therapeutics, Inc. (NASDAQ: ALTH), Amgen Inc. (NASDAQ: AMGN), A.P. Pharma, Inc. (Nasdaq: APPA), Arqule Inc. (NASDAQ: ARQL), Bristol-Myers Squibb (NYSE: BMY), Celldex Therapeutics (NASDAQ: CLDX), Celgene Corporation (NASDAQ: CELG), Cell Therapeutics (NASDAQ: CTIC), Cougar Biotechnology, Inc. (NASDAQ: CGRB), Eli Lilly and Company (NYSE: LLY), Exelixis (NASDAQ: EXEL), Genomic Health, Inc. (NASDAQ: GHDX), GlaxoSmithKline (NYSE: GSK) , Immunogen (NASDAQ: IMGN), Medarex (NASDAQ: MEDX), Medivation, Inc. (NASDAQ: MDVN), Micromet, Inc. (NASDAQ: MITI), OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI), OSI Pharmaceuticals (NASDAQ: OSIP), Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), Pfizer Inc. (NYSE: PFE), Rosetta Genomics (NASDAQ:ROSG), Synta Pharmaceuticals (NASDAQ: SNTA), Trubion Pharmaceuticals, Inc. (Nasdaq: TRBN), ZIOPHARM Oncology (NASDAQ: ZIOP), and ZymoGenetics, Inc. (NASDAQ: ZGEN).
The full presentation can be seen at BioHealthInvestor.com.
JON C. OGG
May 27, 2009
These are the top pre-market analyst downgrades and negative research calls we have seen from Wall Street early this Friday morning:
Akamai Tech (AKAM) Cut to Hold at Citigroup.
Bristol-Myers Squibb (BMY) Cut to Market Perform at Bernstein.
CarMax (KMX) Cut to Underperform at Wachovia.
Evergreen Solar (ESLR) Started as Sell at Canaccord Adams.
GOL Linhas Areas Inteligentes S.A. (GOL) Cut to Underweight at JPMorgan.
Human Genome Sciences (HGSI) Cut to Market Perform at Bernstein.
Monsanto (MON) Cut to Neutral at JPMorgan.
Schnitzer Steel (SCHN) Cut to Sell at UBS.
Teradata (TDC) Started as Underweight at Thomas Weisel.
Under Armour (UA) Cut to “Negative” at Susquehanna.
Walt Disney (DIS) Cut to Neutral at JPMorgan.
Whole Foods (WFMI) Cut to Hold at Jefferies.
JON C. OGG
It has been no secret that the market for initial public offerings has been one of the biggest ghost towns in the financial markets. The secondary markets and the bond markets are opening up capital to companies, even if it comes at historically expensive prices. But still, IPO’s have been dead. Based upon the recent move of Changyou.com (NASDAQ: CYOU) and Mead Johnson Nutrition Company (NYSE: MJN) and upon a few other factors like a nearly 25% rise from March lows, there could be some hope that the U.S. IPO market will start to open back up.
Read More
If you can believe it, there is an initial public offering on deck this week. Bristol-Myers Squibb Co. (NYSE: BMY) is set to partially spin off Mead Johnson Nutrition (NYSE: MJN). It looks like it is actually going to come to market as many have hoped.
Read More
| Today’s top tickerspy Indexes | |
| Home Furnishing R... | +14.1% |
| Ethanol and Biofu... | +5.1% |
| Electronics Retai... | +2.1% |
| Diabetes Stocks | +2.0% |
| Memory Chip Stock... | +2.0% |
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