Here are todays unofficial closing numbers:

Dow 9,487.37 -21.91 (-0.23%)
S&P 500 1,025.18 -4.67 (-0.45%)
Nasdaq 2,048.11 -9.37 (-0.46%)

Continue reading Closing Bell: Too much, too soon? (FSLR, YONG, ETRM, PFE & MGM)

Closing Bell: Too much, too soon? (FSLR, YONG, ETRM, PFE & MGM) originally appeared on BloggingStocks on Fri, 02 Oct 2009 16:00:00 EST. Please see our terms for use of feeds.

Continue reading First Solar to join the S&P 500 Index

First Solar to join the S&P 500 Index originally appeared on BloggingStocks on Fri, 02 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.

Continue reading Some big names set new 52-week highs Tuesday: WAG, ACS, WYE ...

Some big names set new 52-week highs Tuesday: WAG, ACS, WYE ... originally appeared on BloggingStocks on Wed, 30 Sep 2009 08:20:00 EST. Please see our terms for use of feeds.

Continue reading Wyeth (WYE) shareholders approve sell to Pfizer (PFE)

Wyeth (WYE) shareholders approve sell to Pfizer (PFE) originally appeared on BloggingStocks on Mon, 20 Jul 2009 16:30:00 EST. Please see our terms for use of feeds.

Mergers and acquisitions aren't delivering the fees that investment bankers used to enjoy, but fortunately, the money's coming from elsewhere. Data from Thomson Reuters reports a 29% increase in capital markets and M&A fees for the first time in more than a year. Share sales (e.g., rights offerings) were where dealmakers found the action. In the shrinking M&A space, Morgan Stanley (NYSE: MS) has taken the lead spot.

Since there are fewer banks in the marketplace than there were a year ago -- and they have less money -- the capital is starting to come from elsewhere. Because they aren't lending at their previous pace, companies are issuing bonds and equity to replenish their coffers. Pfizer (NYSE: PFE), for example, raked in more than $23 billion from the bond market to fund its acquisition of Wyeth (NYSE: WYE), and Roche nabbed Genentech with the help of a $30 billion debt issuance.

Continue reading M&A plunges, investment banks find money elsewhere

M&A plunges, investment banks find money elsewhere originally appeared on BloggingStocks on Fri, 26 Jun 2009 11:00:00 EST. Please see our terms for use of feeds.

Continue reading Elan: Yet another deal rumor -- Bristol eyeing a stake

Elan: Yet another deal rumor -- Bristol eyeing a stake originally appeared on BloggingStocks on Mon, 01 Jun 2009 13:50:00 EST. Please see our terms for use of feeds.

Pfizer (NYSE: PFE), a pharmaceutical entity whose colleagues include Merck (NYSE: MRK), Novartis (NYSE: NVS), and Johnson & Johnson (NYSE: JNJ), will be reporting first-quarter earnings Tuesday. As one has come to expect, the market believes that the company will be experiencing a decline in bottom-line income. The call is for 49 cents per share versus 61 cents per share in the year-ago period.

That's a drop of 20%. That might not sound so hot, but the good news is that Pfizer has a solid recent track record when it comes to beating earnings expectations. So shareholders might be justified in feeling confident about that aspect of the game.

Continue reading Earnings preview: Will Pfizer beat in Q1?

Earnings preview: Will Pfizer beat in Q1? originally appeared on BloggingStocks on Mon, 27 Apr 2009 08:30:00 EST. Please see our terms for use of feeds.

Wyeth (NYSE: WYE) closed at $43.11. Pfizer (NYSE: PFE) announced on January 26 the acquisition of WYE for $33 in cash and 0.985 of a share of PFE. PFE closed at $14.04. WYE April and May option implied volatility of 23 is near its 13-week average of 23, according to Track Data, suggesting non-directional price movement.

Schering-Plough (NYSE: SGP) and Merck (NYSE: MRK) approved a definite merger agreement on March 9. SGP shareholders will receive 0.5767 shares and $10.50 in cash for each share of SGP. SGP closed at $24.19. MRK closed at $27.16. SGP April and May option implied volatility of 37 is near its 2-week average according to Track Data, suggesting non-directorial price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Wyeth and Schering-Plough volatility flat; on buyout spreads of 8% originally appeared on BloggingStocks on Mon, 30 Mar 2009 09:00:00 EST. Please see our terms for use of feeds.

"Long-time healthcare investors can be forgiven their confusion; drug stocks are supposed to be defensive, but many of the largest drugmakers have been pounded," observes Richard Moroney.

Nevertheless, in the blue chip Dow Theory Forecasts, the advisor sees two favorite healthcare and pharmaceutical issues as long-term opportunities: AstraZeneca (NYSE: AZN) and Johnson & Johnson (NYSE: JNJ).

Moroney explains, "Healthcare companies' profits are supposed to remain fairly steady regardless of the economic situation. But hospitals' capital spending fell in the December quarter, and many consumers are putting off medical care because they cannot afford it.

Continue reading Healthcare favorites for long-term growth

Healthcare favorites for long-term growth originally appeared on BloggingStocks on Wed, 04 Mar 2009 14:00:00 EST. Please see our terms for use of feeds.

The shares of Dow component Pfizer Inc. (NYSE: PFE) slipped to a fresh 52-week low out of the gate this morning, after the pharmaceutical firm said it was canceling development of two experimental drugs in late-stage trials. Pfizer is scrapping work on esreboxetine, a fibromyalgia treatment, and PD 332,334, a drug for generalized anxiety disorder, because "it was considered unlikely that either compound would provide meaningful benefit to patients beyond the current standard of care."

Currently, Pfizer is fumbling to find a replacement for its successful cholesterol drug, Lipitor, which loses patent protection in 2011. The pharma firm isn't having much luck, though. Two late-stage drugs for pancreatic cancer and for obesity were also recently dust-binned after disappointing study results.

Continue reading Pfizer finds new annual low after scrapping two late-stage drugs

Pfizer finds new annual low after scrapping two late-stage drugs originally appeared on BloggingStocks on Tue, 24 Feb 2009 12:30:00 EST. Please see our terms for use of feeds.

• Jefferies upgraded NeuStar (NYSE:NSR) to Hold from Underperform on valuation following the recent weakness and raised their target price to $15 from $12.
  
• Oppenheimer upgraded Adobe Systems (NASDAQ:ADBE) to Outperform from Perform on valuation as they believe the recent pullback has created an attractive entry point into the name. The firm has a $27 target on the stock.
  
• UBS upgraded Pfizer (NYSE:PFE) and Wyeth (NYSE:WYE) to Buy from Neutral based on valuations. Pfizer's price target remains $18 and Wyeth's was raised to $50 from $38.
• Methanex (NASDAQ:MEOH) was upgraded to Sector Outperformer from Sector Performer at CIBC.
  
• BHP Billiton (NYSE:BHP) was raised to Buy from Hold at RBS.
  
• Anadys Pharma (NASDAQ:ANDS) was upgraded to Buy from Neutral at Piper Jaffray.

Continue reading Analyst upgrades, downgrades and initiations: ADBE, PFE, WYE, BHP

Analyst upgrades, downgrades and initiations: ADBE, PFE, WYE, BHP originally appeared on BloggingStocks on Mon, 09 Feb 2009 12:31:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Amazon.com Inc. (NASDAQ: AMZN) shares surged after earnings easily topped Q4 expectations.
• AT&T Inc. (NYSE: T) reported that its Q4 earnings fell while its revenue rose marginally.
• Boeing Co. (NYSE: BA) posted a big loss and lower revenue due to strikes and design changes.
• Caterpillar Inc. (NYSE: CAT) reported that Q4 profit fell despite higher revenue and lowered its guidance.
• Danaher Corp. (NYSE: DHR) lower Q4 profit topped analysts' estimates, sending shares higher.
• Eastman Kodak Co. (NYSE: EK) reported a Q4 net loss and announced additional job cuts.

Continue reading Earnings highlights: Amazon, Boeing, Caterpillar, Hershey, AT&T and others

Earnings highlights: Amazon, Boeing, Caterpillar, Hershey, AT&T and others originally appeared on BloggingStocks on Sat, 31 Jan 2009 15:10:00 EST. Please see our terms for use of feeds.

Continue reading Stocks in the news: AMZN, PG, XOM, DNA, HON, DELL, PFE ...

Stocks in the news: AMZN, PG, XOM, DNA, HON, DELL, PFE ... originally appeared on BloggingStocks on Fri, 30 Jan 2009 08:15:00 EST. Please see our terms for use of feeds.

Here's a quick look at some of Monday's earnings results:

Netflix Inc.'s (NASDAQ: NFLX) fourth-quarter earnings jumped 45% percent to nearly $23 million, or 38 cents per share, which surpassed analysts' estimates. Revenue in the period rose 19% to $360 million. The company ended 2008 with 9.4 million subscribers, a gain of 718,000 customers from the end of September. Shares fell $0.29, less than 1% Monday.

Amgen Inc.'s (NASDAQ: AMGN) fourth-quarter profit grew 15% percent to $961 million, or 91 cents per share, mostly due to lower expenses. Revenue was $3.75 billion about the same as last year. Results included $60 million in restructuring costs a year ago. Shares rose $1.22, or 2.3%, but fell in after-hours trading.

Continue reading Monday earnings recap: Netflix, Amgen, Halliburton, Wyeth, Tyson

Monday earnings recap: Netflix, Amgen, Halliburton, Wyeth, Tyson originally appeared on BloggingStocks on Mon, 26 Jan 2009 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Stocks in the news: PFE, WYE, BCS, CAT, MCD, PHG, WAG, SBUX, S ...

Stocks in the news: PFE, WYE, BCS, CAT, MCD, PHG, WAG, SBUX, S ... originally appeared on BloggingStocks on Mon, 26 Jan 2009 08:08:00 EST. Please see our terms for use of feeds.

Before the bell: Futures rise following Pfizer/Wyeth deal, ahead of earnings originally appeared on BloggingStocks on Mon, 26 Jan 2009 07:37:00 EST. Please see our terms for use of feeds.

Pfizer (NYSE: PFE) has agreed to buy Wyeth (NYSE: WYE) for $68 billion. According to The New York Times, "The deal would not only create a pharmaceutical behemoth but would be a rarity in the current financial tumult: a big acquisition that is not a desperate merger of two banks orchestrated by the government."

A good point and one which may indicate that there is an unexpected wave of M&A coming.

Recent reports from analysts and the media say that the recession will cause huge drops in revenue in industries beyond retailing., Hotels are facing unprecedented leaves of vacancies. Many car parts suppliers are up against cash problems. Airlines are again being challenged by falling revenue as traffic dries up.

The Pfizer deal with Wyeth is more about cost cutting than it is about increasing revenue. Each company has it its own line of drugs. Putting the two companies together do not appear to do anything to improve sales, at least in the early stages. But, the firms believe that they can fire tens of thousand of people as they face having some of their drugs lose patent protection which actually could drive revenue down at the new company.

Many other industries are facing similar troubles and are facing them now. If firms in these sectors cannot sharply reduce costs, they won't be around in a year.

M&A is back, but it is back for reasons that show how ugly the economy is getting.

Douglas A> McIntyre is an editor at 24/7 Wall St.

As Pfizer (PFE) buys Wyeth (WYE) will consolidation spread? originally appeared on BloggingStocks on Mon, 26 Jan 2009 04:00:00 EST. Please see our terms for use of feeds.

Closing Bell: Markets more or less stable ... originally appeared on BloggingStocks on Fri, 23 Jan 2009 16:00:00 EST. Please see our terms for use of feeds.

Pfizer (NYSE:PFE) is pushing to buy rival Wyeth (NYSE:WYE) for $60 billion. Since this is not a particularly good time to complete M&A work, it is hard to understand why the big drug company would be considering the deal.

According to The Wall Street Journal, "A combination of these two U.S. pharmaceutical giants would redraw the boundaries of the global drug industry, which has suffered from flagging product development and high fixed costs."

Investors don't have to go far to see the motivation. The combination would allow the new entity to cut hundreds of millions if not billions of dollars in redundant costs. No matter how much risk there is in integrating the two companies, the ability to cut expenses is too big a motivation.

Welcome to the next stage of the recession and rising unemployment. Up until now most large layoffs have come from individual companies with falling sales and operating incomes. Cuts give them modest cost savings, perhaps enough to get through the recession without losing money.

But, industry consolidation is often the next shoe to drop in a failing economy. It has already happened in financial services. But, that sector is in shambles. Both Pfizer and Wyeth have been consistent money-makers. They would be benefiting from tens of thousands of job cuts in a marriage.

The economy is really bad when corporations which has been doing OK take large risk to dump staff.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Pfizer (PFE) pushes for Wyeth (WYE) merger originally appeared on BloggingStocks on Fri, 23 Jan 2009 04:19:00 EST. Please see our terms for use of feeds.

Elan (NYSE: ELN) said it is initiating a strategic review which could result in a minority investment, a strategic alliance, a merger, or a sale. ELN closed at $8.03 Monday. ELN February call option implied volatility is at 103, puts are at 112, above its 26-week average of 100 according to Track Data, suggesting larger price movement..

Biogen Idec (NASDAQ: BIIB) closed at $48.45 Monday. BIIB and ELN have a 50-50 stake in the multiple sclerosis drug Tysabri. ELN said it is initiating a strategic review which could result in a minority investment, a strategic alliance, a merger or a sale. BIIB February option implied volatility of 56 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Crucell NV (NASDAQ: CRXL), a biopharmaceutical company, and Wyeth (NYSE: WYE) confirmed on January 7 the two firms are in discussion to combine. CRXL closed at $22.63 Monday. CRXL February option implied volatility of 58 is near its 26-week average of 61, according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Elan (ELN) volatility up into strategic review originally appeared on BloggingStocks on Tue, 13 Jan 2009 08:38:00 EST. Please see our terms for use of feeds.