Best Buy Nears Launch Of Revamped On-Demand Video
NASDAQ.com is reporting that barely a week after Wal-Mart Stores Inc. (WMT) signaled its latest push to sell and rent movies over the Internet, Best Buy Co. (BBY) is preparing to roll out its own, revamped digital-download service.
In an Internet posting, Best Buy said its best customers are allowed one free movie rental download each month from Blue Sky Video by Best Buy, which the retailer said is "coming out soon."
Best Buy in November announced it would develop an on-demand movie and entertainment service as part of a multiyear partnership with streaming service Sonic Solutions' (SNIC) Roxio CinemaNow. The deal, which included Best Buy acquiring warrants to purchase shares of Sonic Solutions' stock, also allowed Best Buy to embed the service on various electronic devices.
Mar 4 · 10:53:00 AM · Source: NASDAQ.com
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by Rich Pike
Abbott and GSK Team on Skin Cancer Test
Abbott announced today that it has entered into an agreement with GlaxoSmithKline
(GSK) to develop a molecular diagnostic test intended for use as an aid in
selecting patients who may benefit from a skin cancer treatment in development
by GSK.
"This is an exciting continuation of our important collaboration with GSK, a
leading company in cancer immunotherapy research," said Stafford O'Kelly, head
of Abbott's molecular diagnostics business. "The agreement is indicative of
our commitment to personalized medicine and our focus on developing innovative
companion diagnostic tests that can be used to identify patients most likely
to benefit from specific cancer therapies."
Mar 4 · 10:44:00 AM · Source: Reuters.com
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by Rich Pike
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
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
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 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 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 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
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