Vertex Stock Jumps After Highly Anticipated CF Drug Gains Approval

Biotech company Vertex Pharmaceuticals gained Food and Drug Administration approval for a highly anticipated cystic fibrosis treatment — leading Vertex stock to pop early Tuesday. Late Monday, Vertex said the Food and Drug Administration approved Trikafta, a triple-drug that aims to treat the underlying genetic cause of cystic fibrosis in about 18,000 people. Vertex will charge $23,896 for a 28-day supply of Trikafta, Needham analyst Alan Carr said.

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  Vertex's drug for almost all cystic fibrosis patients approved five months early

  American City Business Journals
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  Vertex prices cystic fibrosis combo treatment at $311,000-per-year

  Reuters

Bernstein’s Lim Sees Investors Staying on the Sidelines in China

Joanne Lim, algorithmic and portfolio trader at Bernstein, discusses China's Loan Prime Rate, markets and her outlook for the property sector. She speaks on “Bloomberg Markets: China Open.

Operating Efficiency Puts Railroad Stocks Back on Track

Below, we take a more detailed look at the operational performance of Union Pacific Corporation (UNP), CSX Corporation (CSX), and Norfolk Southern Corporation (NSC), as well as go over possible trading tactics. Union Pacific Corporation (UNP) Union Pacific engages in railroad operations in North America – transporting coal, industrial products, intermodal containers, agriculture goods, chemicals, and automotive goods. Last week, the 157-year-old freight carrier posted third quarter (Q3) adjusted earnings per share (EPS) of $2.22 on revenues of $5.5 billion.

Warren Steps Into Repo Market Turmoil, Asks Mnuchin for Answers

Senator Elizabeth Warren waded into last month's turmoil in short-term funding markets, warning Treasury Secretary Steven Mnuchin not to use the incident as a rationale for weakening post-financial crisis regulations. Warren, a front-runner in the race to challenge Donald Trump in the 2020 U.S. presidential election, sent a letter to the Treasury on Friday. In it, she sought Mnuchin's views on what triggered the spike in rates for repurchase agreements and expressed concern about potential costs to businesses and consumers if strains persist.

Bristol-Myers Stock Jumps After Lung Cancer Treatment Beats Chemo

Bristol-Myers Squibb stock popped Tuesday after the pharmaceutical company's lung cancer treatment outshined chemotherapy in a Phase 3 study. In premarket trading on the stock market today, BMY stock jumped 4.8%, near 55.80, in above-average volume. The study evaluated a combination of immuno-oncology drugs Opdivo and Yervoy plus chemo in previously untreated lung cancer patients.

• Bristol-Myers shares surge almost 5% premarket after positive results in lung-cancer trial

  MarketWatch
• Bristol-Myers' immunotherapies show promise in lung cancer trial; shares rise

  Reuters

The 3 Best Stocks to Buy and Hold (Forever)

Buy and hold has been an investment strategy used for centuries. Unfortunately, the rise of high-frequency trading (HFT), greater volatility in the markets and the recession of 2008 seem to have stripped buy and hold of its allure. While the market's new normal does not favor those who do not keep close tabs on their investments, strategic buy and hold is still a viable strategy that can be used with success.

Biogen Stock Rockets On Plans To Seek Approval For Alzheimer's Drug

Biogen on Tuesday reported adjusted income of $9.17 per share on $3.6 billion in sales. In the year-ago period, Biogen earnings were $7.40 per share on $3.44 billion in sales. Analysts surveyed by Zacks Investment Research expected Biogen earnings of $8.28 per share on $3.53 billion in sales.

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  Biogen Surges as Momentum for Alzheimer’s Treatment Revives Hope

  Bloomberg
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  Biogen Stock Soars on Alzheimer's Drug News

  TheStreet.com

Probability of a ‘No-Deal’ Brexit Very Low, Says Eastspring’s Graham

Colin Graham, chief investment officer of multi-asset solutions at Eastspring Investments, discusses the Brexit vote, its impact on the pound and his outlook for markets. He speaks on “Bloomberg Markets: Asia.

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  We Are Inching Toward Some Sort of Brexit Resolution, Says Lecturer Wellings

  Bloomberg
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  Political Risks Are Rising Around the Globe, Says Matthews Asia’s Kong

  Bloomberg

New Oriental Education Earnings Top, But China Stock Reverses Below Buy Point

Hot China stock New Oriental Education & Technology reported better-than-expected fiscal first-quarter earnings, ahead of quarterly results from rival TAL Education Thursday. New Oriental Education stock opened higher, but then reversed lower. TAL Education stock also fell.

Microsoft earnings: The death of Windows 7 is almost here

When Microsoft Corp. stopped supporting its Windows XP operating system, the rush to replace aging machines that relied on the older software led to a huge boost to the company's earnings. IDC and Gartner have noted strong PC sales this year as businesses prepare for life without Windows 7, and analysts are suggesting that the windfall will be spread over multiple quarters or even years. “We expect upside from migration to Win 10 to continue for several quarters, and industry conversations suggest more multi-year contracts to come,” they wrote in previewing Microsoft's (MSFT) fiscal first-quarter earnings, which are expected to be released Wednesday afternoon.

3 ‘Strong Buy’ Energy Stocks with Over 9% Dividend Yield

The low prices have pushed down stock prices in the energy sector, which has paradoxically opened an opportunity for income investors. The energy sector's production companies benefit from dealing in commodities – oil and gas – that are always in demand. Low share prices are attractive to investors, and the companies have been following two strategies to boost their shares.

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  CESC Limited (NSE:CESC) Has Got What It Takes To Be An Attractive Dividend Stock

  Simply Wall St.
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  How Does MOBI Development Co., Ltd. (HKG:947) Fare As A Dividend Stock?

  Simply Wall St.

California governor wants investigation of high gas prices

California's governor has asked the attorney general to investigate why the state's gas prices are so high, pointing to a new report suggesting big oil companies are "misleading and overcharging customers" by as much as $1 per gallon. Name brand retailers — including 76, Chevron and Shell — often charge more because they say their gasoline is of higher quality. But a new analysis from the California Energy Commission could not explain the price difference, concluding "there is no apparent difference in the quality of gasoline at retail outlets in the state."

Southwest buying another airline? Carrier downgraded on M&A speculation

Southwest Airlines was downgraded from "buy" to "hold" by an investment bank based on speculation that it might look to solve its 737 Max issue through an acquisition. Southwest Airlines Co. (NYSE: LUV) has hundreds of 737 Max planes on order through Boeing Co. (NYSE: BA). "An acquisition by Southwest motivated by a desire to diversify away from the Max creates significant risks in the near term for LUV," Stifel analysts said in a Monday research note speculating whether low-cost carriers Alaska Air Group Inc. (NYSE: ALK) and JetBlue Airways (Nasdaq: JBLU) could be M&A targets.

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  Stocks close higher; Dow’s ascent clipped by Boeing’s slump

  MarketWatch
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  Internal Boeing survey hints at a culture of rushing through aircraft safety features in the years before 2 fatal 737 Max crashes (BA)

  Business Insider

What to Do After Maxing Out Your 401(k) Plan

The downside: Annuities are rather illiquid. "You sometimes have to pay a [tax] penalty if you withdraw the funds prior to age 59½ or if you don't take them as an income stream [after retirement],” cautions Klein. Even if you avoid the penalty, by moving the funds directly to another annuity product, you still probably will be subject to the insurance company's surrender charges.

McDermott Financing Lifeline Faces Possible Bondholder Hurdle

The company said Monday it received an initial $550 million term loan and $100 million in letters of credit to help stabilize its business and ward off bankruptcy. McDermott's stock slumped about 13% Monday and its bonds fell as investors fretted about uncertainty over its free cash flow and 2019 outlook, the high interest rates on the rescue loan, and the hurdles it faces accessing the remaining balance of the $1.3 billion term loan and $400 million in letters of credit.

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  Dean McDermott's Ex-Wife on Her Relationship With Tori Spelling, How She Dealt With Past Infidelity Reports

  Entertainment Tonight
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  McDermott lands new credit, awards millions in retention bonuses

  American City Business Journals

The 401(k) retirement is coming — are you prepared?

Most retirees rely on retirement income they didn't personally put away for their futures, although they did work for it. Young adults won't have that luxury, and they know it, a recent survey found. All but 5% of current retirees consider Social Security and a pension plan as their primary sources of retirement income, according to a Wells Fargo (WFC) survey released Friday.

'A good move on Oracle’s part': Analysts say this high-profile competitor would be a smart pick for co-CEO role

Days after Oracle Corp. co-CEO Mark Hurd's death while on medical leave, the Redwood City-based company hasn't yet named a co-CEO for Safra Catz — but two analysts told the Silicon Valley Business Journal they could see a particular high-profile competitor filling the role. Constellation Research founder Ray Wang suggested Bill McDermott, who stepped down as CEO of Oracle rival SAP this month after 17 years with the company. French Caldwell, CFO of the Analyst Syndicate, said McDermott would be “killer” as a co-CEO of Oracle.

Your 401(k) Is More Important Than You Think

Not only are there strict rules about withdrawing 401(k) money prematurely, but your 401(k) could be the most valuable piece of your retirement income pie someday; most people do not have any other employer retirement plan. For all of these reasons your 401(k) is more important than you might think. Saving for Retirement With a 401(k) In the past, many private-sector employees could depend on a traditional, defined-benefit pension from their employer.