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Pfizer (PFE)
Pfizer and Medivation Alzheimer's Results
Pfizer and Medivation announced
results from two Phase 3 trials of the investigational drug dimebon
(latrepirdine*) in patients with Alzheimer`s disease (AD). In the CONNECTION
trial, dimebon did not meet its co-primary or secondary efficacy endpoints
compared to placebo. Co-primary endpoints were measures of cognition and global
function.
Dr. David Hung, president and chief executive officer of Medivation, described the results as "unexpected" and said they are "disappointed". That's not good. Pfizer is under a lot of pressure to replace sales from Lipitor, which goes off patent next year.
Mar 4 · 10:41:00 AM · Source: Reuters.com
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by Rich Pike
The Buckle (BKE)
Buckle Same Store Sales Up 5% in Feb
The Buckle announced today that comparable store net sales, for
stores open at least one year, for the four-week period ended February 27, 2010 increased 5.1 percent
from comparable store net sales for the four-week period ended February 28, 2009. Net sales for the fourweek
fiscal month ended February 27, 2010 increased 9.7 percent to $69.4 million from net sales of $63.3
million for the prior year four-week fiscal month ended February 28, 2009.
The Buckle has grown nicely over the years in the center of the US. They are now expanding into the east and west coasts.
Mar 4 · 10:32:00 AM · Source: Company Press Release
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by Rich Pike
Unemployment
Jobless Claims in US Fell 29000 Last Week to 46900
The U.S. Labor Department said today that in the week ending Feb. 27 the advance figure for seasonally adjusted initial claims was 469,000, a decrease of 29,000 from the previous week's revised figure of 498,000. The 4-week moving average was 470,750, a decrease of 3,500 from the previous week's revised average of 474,250.
This points to an improvement in the labor market that is slow to develop.
Mar 4 · 9:18:00 AM
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by Larry Etter
AIG (AIG)
AIG to Sell AIA to Prudential for $35.5 Billion
American International Group, Inc. announced today a definitive agreement for the sale of the AIA Group, Limited, one of the world's largest pan-Asian life insurance companies, to Prudential plc for approximately $35.5 billion, including approximately $25 billion in cash, $8.5 billion in face value of equity and equity-linked securities, and $2.0 billion in face value of preferred stock of Prudential, subject to closing adjustments.
This deal will provide some of the needed cash AIG sorely needs.
Mar 1 · 10:21:00 AM · Source: Company Press Release
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by Larry Etter
Verizon (VZ)
Verizon Waives Fees for Calls to Chile
Responding to the devastating earthquake in Chile, Verizon is waiving all long-distance usage charges for calls from itsresidential landline and Verizon Wireless phones to Chile, from Feb. 26 through Mar. 6.* The company will also waive all Verizon Prepaid Phone Card charges for all long-distance calls placed from the U.S. to Chile.
Mar 1 · 10:16:00 AM
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by Larry Etter
Citigroup (C)
Citigroup Names Zedillo to Board
Citigroup Inc. has named former Mexico President Ernesto Zedillo to its board of directors. Citigroup also said former AT&T Inc. executive Michael Armstrong and Xerox Corp. Chairman Anne M. Mulcahy won’t stand for re-election at the annual shareholder meeting on April 20, Citigroup said today in a statement.
The Citigroup board overhaul continues.
Feb 26 · 10:29:00 AM
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by Larry Etter
GDP
Q4 GDP Grew at 5.9%
The nation's gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 5.9% in the quarter, the Commerce Department reported today.
The numbers show the economy grew at a slightly faster pace than originally thought during the last three months of 2009.
Feb 26 · 10:19:00 AM
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by Larry Etter
Bemis Company (BMS)
Bemis Receives Regulatory Approval for Acquisition
Bemis Company announced that the U.S. District Court
for the District of Columbia has signed an order, approving Bemis` acquisition
of the Food Americas operations of Alcan Packaging, a business unit of
international mining group Rio Tinto plc (LON: RIO; ASX: RIO), subject to
certain conditions.
The Food Americas operations recorded 2009 net sales of
approximately $1.4 billion and operate 23 plants in North America, South
America, and New Zealand. With this agreement, Bemis has satisfied the U.S.
regulatory approval requirements necessary to complete the acquisition. Bemis
expects the transaction to close as soon as possible.
The order signed by the court requires Bemis to divest certain Alcan Packaging
Food Americas packaging assets in the United States after closing. The packaging
assets that will be divested represent approximately $100 million in annual net
sales and include two facilities with production equipment used to produce
packaging for fresh meat and retail natural cheese products.
Feb 25 · 9:15:00 PM · Source: Reuters
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by Michael Oliveto
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