According to Reuters, former Citigroup (C) CEO Sandy Weill may start a fund to invest in distressed financial companies. Reuters writes that Amazon (AMZN) turned in a weak forecast hurting its stock.…
Dynavax Technologies Corp. (NASDAQ: DVAX) is the latest biotech implosion as shares are down some 75% today. The company gave an update on an FDA clinical hold on its investigational vaccine HEPLISAV…
A lot of people believe that Merck (MRK) knew a lot more about the dangers of its arthritis drug Vioxx than the company ever let on. Heart problems were apparently a by-product…
Douglas A. McIntyre According to Reuters, the Treasury will make $250 billion directly into banks. Ciitgroup (C) and JPMorgan (JPM) would get $26 billion each. Merrill Lynch (MER) and Bank of America (BAC) would each…
Carl Icahn appears to have won a blue ribbon for ImClone Systems (NASDAQ: IMCL) shareholders. The biotech stock is trading up on a very weak trading day after what many had deemed…
According to Reuters, the House will vote on the bailout bill today. Reuters reports that JP Morgan (JPM) will not keep the CEO of WaMu. Reuters reports that John Thain of Merrill…
You know it’s a rough day in the market when even defensive stocks are weak or mixed. We are at least seeing a mixed bag from some of these. But the trend…
According to Reuters, Lehman (LEH) will release earnings a week early after its stock dropped 45%. Reuters reports that OPEC agreed to a surprise production cut. Reuters reports that CFOs are more…
The evidence that sales at many companies are struggling and that employment will suffer are almost everywhere. Recently, a division of GMAC said it would let 5,000 people go. According to MSNBC,…
Merck (MRK) and Schering-Plough (SGP) make two of the most widely sold drugs in the world. One is cholesterol drug Zetia. Another is a related drug called Vytorin. The sales of the…
Douglas A. McIntyre Texas Instruments (TXN) Bad earnings take chip company down. Falls to $23.28 from 52-week high of $38.79. AMD (AMD) Chip company may have changed CEOs but Wall St. still thinks company is…
According to Reuters, Apple (AAPL) missed Wall St. expectations, sending the stock down by 10%. Reuters reports that American Express (AXP) profits fell on credit losses.
Merck & Co. (NYSE: MRK) posted earnings that look pretty good on the surface. The problem is that the surface is about the only thing that looked appealing for the drug giant…
Douglas A. McIntyre These are not all of the upgrades or positive analyst calls seen this morning but these are some of the top calls seen this Friday morning: Aventine Renewable (NYSE: AVR) Raised to…
According to Reuters, Robert Steel was named the new CEO of Wachovia (WB) and the bank said it would have a quarter loss of $2.6 to $2.8 billion. Reuters writes that the…
