Market News
Pfizer (PFE)
Pfizer announced the discontinuation of A4021016 (also known as ADVIGO 1016), a Phase 3 trial examining the effects of investigational compound figitumumab (CP-751,871) as first-line treatment in patients with advanced non-adenocarcinoma non-small cell lung cancer due to the study meeting predefined boundaries for early termination.
An analysis by an independent Data Safety Monitoring Committee (DSMC) showed that the addition of figitumumab to paclitaxel plus carboplatin would be unlikely to meet the primary endpoint of improving overall survival compared to paclitaxel plus carboplatin alone.
Dec 31 · 1:36:00 PM · Source: Reuters
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by Michael Oliveto
Microsoft (MSFT)
China is a vital market for Microsoft's Web search business, as it chases leaders Baidu Inc and Google in the world's biggest Internet market, the company said.
Since launching its English-language Bing search site in June, Microsoft has been gaining steady share in the United States, with 10.3% in November versus 17.5% for Yahoo and 65.6% for dominant player Google, according to comScore. Microsoft hopes to get off to a similar fast start with its Chinese-language Bing site, which is still in its beta phase following a low-key launch in June.
Dec 31 · 12:54:00 PM · Source: Reuters
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by Michael Oliveto
Microsoft (MSFT)
Thomas Weisel Partners analyst Tim Klasell repeated his Overweight rating on Microsoft while lifting his target on the stock to $35, from $31.
Klasell upped his EPS forecast for the June 2010 fiscal year to $1.86, from $1.73; for FY 2011 he goes to $2.11, from $1.96. “The outlook for hardware shipments and the overall IT spending environment in 2010 has improved and the company has reduced its cost structure,” he writes.
Dec 31 · 12:44:00 PM · Source: Barron's
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by Michael Oliveto
McDonald's (MCD)
The abrupt retirement of Ralph Alvarez, 55, McDonald's president and chief operating officer, came as a surprise to people in and around the company. The company announced December 1 that Alvarez was retiring, effective December 31, because of chronic knee pain.
His departure is the second time in a little more than three years that the company's No. 2 executive has left suddenly. In 2006, investors and analysts were similarly surprised when Alvarez's predecessor, Michael Roberts, announced his resignation.
Dec 31 · 12:38:00 PM · Source: Chron
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by Michael Oliveto
McDonald's (MCD)
McDonald's will open a new outlet at Berlin's Checkpoint Charlie, completing the landmark's 20-year transformation from Cold War frontline to tourist hotspot.
McDonald’s has applied for planning permission with the German authorities, according to company Spokeswoman Christiane Woerle. If it goes through, the 6,500 square-foot restaurant will have 120 seats and will be located across from a museum dedicated to the Wall.
Dec 31 · 12:32:00 PM · Source: examiner.com
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by Michael Oliveto
Coca-Cola (KO)
California-based Hansen is in discussions with Coca-Cola and some of its main bottlers, hoping to get Peace Tea into the Coke distribution system in a matter of weeks.
The ready-to-drink tea category already includes market leader AriZona as well as drinks from Snapple, Coca-Cola and Pepsi. As the North American beverage business struggles through a recession, ready-to-drink teas have posted modest 1.8 percent sales growth this year, Beverage Digest reported in November.
Dec 31 · 12:24:00 PM · Source: AJC
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by Michael Oliveto
Kraft Foods (KFT)
Kraft Foods is delivering more than 20 new foods and beverages in the first few months of the new year that boast trendy, restaurant-inspired flavors. And just in time for January's diet season, Kraft Foods also is adding several new portion-controlled options to its portfolio.
"We are focused on the consumer from the moment we first dream up a new product to the time it hits store shelves," explains John Li, Director, Culinary Center, Kraft Foods. "We start with a deep dive into consumers' eating habits and flavor preferences. It's part art and part science, but ultimately, our goal is to create the best and most flavorful products possible."
Dec 31 · 12:21:00 PM · Source: PR Newswire
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by Michael Oliveto
Johnson & Johnson (JNJ)
Basilea Pharmaceutica Ltd. announces that the US Food and Drug Administration (FDA) issued to the sponsor, Johnson & Johnson Pharmaceutical Research and Development, LLC (Johnson & Johnson PRD), a Complete Response Letter on ceftobiprole for the treatment of complicated skin and skin structure infections (cSSSI).
The FDA has indicated in its Complete Response Letter to Johnson & Johnson PRD that it has completed the review of the application and has determined that it cannot approve the application in its present form. The Agency determined that data from Studies BAP00154 and BAP00414 cannot be relied upon because inspections and audits of approximately one-third of the clinical trial sites for these studies found the data from a large proportion of these sites to be unreliable or unverifiable, raising concerns regarding the overall data integrity for both studies.
Dec 31 · 12:16:00 PM · Source: Marketwire
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by Michael Oliveto
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