|Bid||34.68 x 1000|
|Ask||34.75 x 4000|
|Day's Range||34.49 - 35.01|
|52 Week Range||33.97 - 46.47|
|Beta (3Y Monthly)||0.37|
|PE Ratio (TTM)||16.01|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||1.44 (4.18%)|
|1y Target Est||42.82|
The Merger Fund’s strategy of assessing what mergers are likely to go through and when works well in times of market volatility. It’s turned in positive returns for 27 out of the past 30 years.
Shares of AbbVie leapt higher Friday after the Food and Drug Administration approved its new rheumatoid arthritis treatment — a potential rival to drugs from Eli Lilly and Pfizer.
AbbVie stock fell on its $63 billion plan to acquire Botox-maker Allergan, which helps the pharmaceutical company diversify as Humira patents expire. So, is ABBV stock a buy right now?
The NASH liver disease treatment market is growing with biotech companies like Intercept and Genfit in late-stage tests. Experts say the market for a successful drug could be worth billions.
(Bloomberg) -- Sarepta Inc.’s bizarre plunge last week over an “erroneous” safety report only galvanized the one analyst on Wall Street who isn’t bullish on the stock.Oppenheimer’s Hartaj Singh remains skeptical of the company’s valuation, aspirations and the lack of disclosures, which came to a head after one of its drugs was cited in a government database tracking adverse events. That posting triggered a sell-off in the stock even though Sarepta said the safety signal wasn’t submitted by an employee or the principal investigator leading the drug’s clinical trial.A broader lack of transparency surrounding Sarepta’s gene therapy trials in Duchenne muscular dystrophy has stoked questions from investors, according to Singh. The company has run its trials at one center, while peers have expanded to multiple sites.“People are puzzled with why the data hasn’t been presented” by a person that isn’t associated with the company, said Singh, the only analyst tracked by Bloomberg who doesn’t have a buy rating on the stock. Lack of clarity about the data combined with an escalating market valuation that now tops $9 billion -- 16th-largest in the Nasdaq Biotechnology Index -- suggests Sarepta investors are “pricing in perfection at these levels,” he said.“The study is ongoing and blinded and will remain blinded -- and that is why the data haven’t been presented,” a Sarepta spokeswoman commented by telephone.Last week’s safety posting followed at the heels of Sarepta announcing that it was increasing the number of patients in a closely watched study and delaying the start of a trial that would use commercial scale of its gene therapy.A key for bullish investors had been the drug’s superior safety profile and more proof of clinical benefit versus competitors like heavyweight Pfizer Inc. and small-cap Solid Biosciences Inc. At the same time, Sarepta has only treated “four boys over the last few years,” Singh said. Potential regulatory clearance isn’t likely until late 2021 if the company gets accelerated approval, or could take until 2023 while the company gathers more data, he said. Some other analysts expect sales could start in 2021.“We have initiated and completed dosing 24 patients in the Phase 2 study and are dosing up to 40 total patients while doing the manufacturing work to start the Phase 3 trial with commercial drug in early 2020,” the company’s spokeswoman said. “We’re moving with incredible urgency.”Singh said in a phone interview that gene therapy is “much more complicated and going to take a lot more time than people are expecting, and we’ve said that since April. The gap between Sarepta and Pfizer is probably in months as opposed to the current thinking that it’s in years.”To be sure, manufacturing concerns have long been a bear argument that buy-rated analysts have dismissed as irrelevant. Sarepta said setbacks for Pfizer and Solid Biosciences helped persuade the company to spend more time optimizing its commercial production capabilities. And Wall Street bulls say that will help reduce risks for the program, which is the first of its kind.While focus has been on Sarepta and its gene therapy portfolio, the drugmaker already sells Exondys 51 for patients with DMD, and may add another drug to its arsenal next week with the upcoming FDA decision for Vyondys 53 (formerly golodirsen). That drug would have the potential to treat about 8% of boys with exon 53-skipping DMD. Analysts expect it could bring in $217 million in sales by 2022 if approved, compared to $1.5 billion for the gene therapy and $496 million for Exondys 51, data compiled by Bloomberg show.(Updates with company comments in the fifth and eighth paragraphs.)To contact the reporter on this story: Bailey Lipschultz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Pfizer Inc. is recalling two lots of its migraine medication Relpax, the U.S. Food and Drug Administration said Thursday. The pharmaceutical company is voluntarily recalling those particular lots because they could potentially be contaminated with two strains of bacteria. "These product lots may not meet Pfizer's in-house microbiological specification for the potential presence of Genus Pseudomonas and Burkholderia," the FDA said in a statement. Pfizer said it has not received any related customer complaints or reports of adverse events and has notified customers of the recall. Shares of Pfizer have fallen 21% so far this year, while the S&P 500 has gained 13.6%.
Although the market's near-7% setback suffered since its late-July high is neither devastating nor unusual, it has certainly been frustrating all the same. Many investors who were lured into the idea of "chasing performance" ended up being punished for doing so, even with Tuesday's bounce.The selloff isn't necessarily a reason to throw in the towel altogether though. Indeed, for income-minded investors willing to forego some excitement in the name of consistency will find the marketwide weakness has up-ended even some of the highest-quality dividend stocks. Many of these names can not only be purchased at below-average valuation, but at above-average yields. Your return on these cheap stocks to buy is based on your entry price. * 15 Growth Stocks to Buy for the Long Haul To that end, here's a rundown of ten dividend stocks to buy while the market's bearish tide has made them too cheap to ignore. They may not be at their absolute bottom yet, but they've given up far more ground than they ever should have been allowed to give up.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cheap Dividend Stocks to Buy: Pfizer (PFE)Source: Kojach Via FlickrDividend Yield: 3.96% Forward Price-to-Earnings Ratio: 12.6Pfizer (NYSE:PFE) can be considered cheap for one simple reason. That is, it's down nearly 20% year-to-date, reaching a 14-month low on Monday.The most recent portion of that weakness stems from the decision to sell its "off-patent" Upjohn division to rival drugmaker Mylan (NASDAQ:MYL), though clearly investors were losing interest -- and faith -- in PFE stock well before that announcement was made late last month. The expiration of key patents on blockbuster drug Lyrica has also weighed on investors' minds, as has a broad uncertainty over which piece of the healthcare market will bear the bulk of the burden for lowering costs.The doubters may have overshot their target though. Pfizer is now yielding 3.96%, and trades at only 12.6 times its (pre-spinoff) 2020 earnings. Chemours Co (CC)Source: Shutterstock Dividend Yield: 8% Forward P/E: 2.9The bulk of the recent weakness Chemours Co (NYSE:CC) shares have demonstrated reflects a potential legal liability related to its manufacture of perfluorochemicals (PFAs) which are used to make, among other things, Teflon cookware.The company's woes go well beyond that one stumbling block though. North America's titanium dioxide market is also running into a headwind, hitting Chemours in where it hurts the most. Its fiscal second-quarter titanium dioxide fell 35% year-over-year. * 10 Stocks Under $5 to Buy for Fall The worst-case scenario may well be fully priced in, however. Although this year is set to be a tough one, analysts are modeling an 11% turnaround in next year's revenue, prompting a sizeable recovery of this year's 52% earnings decline. The stock's yielding 8% in the meantime, on a dividend the company makes a point of paying if at all possible. AES (AES)Source: Shutterstock Dividend Yield: 3.6% Forward P/E: 10.6The second-quarter report from utility name AES (NYSE:AES) was anything but thrilling. Not only did income of 26 cents per share fall short of the 27 cents per share analysts were expecting, revenue was down a little more than 2%.The subsequent pullback added to an existing selloff. AES stock is now down nearly 17% from its March high, as the market seeks to right-price this otherwise reliable player in an unclear interest rate environment.For the most part, investors are forgetting that while it's not a high-growth vehicle, like most utility names, this one's rather well shielded from economic ebbs and flows that could disrupt its dividend … a dividend that has not failed to grow in any year since 2013. Molson Coors Brewing (TAP)Source: Drew Stephens via FlickrDividend Yield: 4.4% Forward P/E: 11.8For a handful of reasons, Molson Coors Brewing (NYSE:TAP) has been unable to restore its former greatness. The name behind not just Coors and Molson, but brands like Blue Moon, Ice House and Miller, just hasn't resonated with consumers like it did in the past. Beer drinkers are now opting for something else, particularly in the United States where it desperately needs to thrive. * 10 Real Estate Investments to Ride Out the Current Storm The full extent of the headwind may have already done all the damage it could do though. Next year's sales should essentially be flat, and the earnings decline is finally expected to abate; 2020's projected income of $4.48 per share is only a tiny fraction better than this year's likely bottom line of $4.45. But, that's enough (and then some) to fund the dividend going forward. It has only paid out $1.63 over the course of the past four quarters. The Carlyle Group (CG)Source: Shutterstock Dividend Yield: 6.5% Forward P/E: 8.7Technically speaking it's not a stock. Nevertheless, The Carlyle Group (NASDAQ:CG) has earned a spot on a list of cheap dividend stocks to buy because the yield of 6.5% is well above the market's average at this time. The S&P 500, for perspective, is yielding right around 1.9%.The Carlyle Group is usually categorized as an asset management outfit, although that's not quite what it does. The organization is a private equity and business-development player. It owns equity in, lends money to or outright owns smaller companies that may not otherwise be accessible to investors through a publicly-traded instrument.It's a structure that's ideal for dividend payments. Inasmuch as its portfolio of companies don't have public shareholders themselves, these businesses can be managed first and foremost with cash flow in mind. Seagate Technology (STX)Source: Shutterstock Dividend Yield: 5.6% Forward P/E: 9.3Much like its peer Micron Technology (NASDAQ:MU), in 2018 Seagate Technology (NASDAQ:STX) found itself to be a victim of a glut it helped create. With an exaggerated response to demand at the time, chip manufacturers ramped up their output of volatile memory (RAM) as well as data-storage drives that largely destroyed their pricing power.That glut finally appears to be abating. Although just barely, prices for NAND and DRAM have stopped falling, and have begun logging higher highs. * 7 Education Stocks to Buy for the Future of Academia Micron is certainly a bargain too, now that there's a light at the end of the tunnel. Seagate Technology is the better dividend name, however, yielding 5.6% and priced at less than ten times next year's expected earnings. Cardinal Health (CAH)Source: Via WikimediaDividend Yield: 4.4% Forward P/E: 8.6Cardinal Health (NYSE:CAH) is a supplier of all sorts of solutions to the healthcare industry. From pharmaceuticals to surgical supplies to services that help hospitals better manage operations like billing and reimbursement, the well-established company keeps caregivers in action.The non-cyclical nature of the business doesn't mean the company doesn't face competition and headwinds though. Indeed, CAH stock has been cut in half since its early 2015 high, reaching new multi-year lows last week. Its performance has been so bad, in fact, that frustrated shareholders are now prepping class-action suits.In the midst of that frenzied doubt is when CAH stock could be most trade-worthy, however. It just topped its quarterly-earnings expectations, earning $1.11 versus estimates of only 93 cents. And the pros are calling for an earnings rebound this year. AT&T (T)Source: Shutterstock Dividend Yield: 5.9% Forward P/E: 9.6AT&T (NYSE:T) took its eye off the ball in 2016. Admittedly, the long-belabored effort to acquire Time Warner was distracting, but the telecom giant's woes weren't just related to that difficult deal. Its DirecTV acquisition has created more problems than profit, and the company seemingly became complacent with its position as the No. 2 wireless provider in the United States.There's a reason T stock is up almost 30% from its late-December low, however, snapping out of a long-standing downtrend in the process. And, Time Warner isn't a core part of the bullish rationale. Investors are starting to realize what the advent of 5G could mean for the telecom market, and for AT&T in particular. * 10 Stocks Under $5 to Buy for Fall As Will Healy put it last week, "the 5G network that burdened the company for years may soon give AT&T a level of pricing power not seen since its days as a monopoly. Moreover, even if T stock stagnates in the near-term, investors can collect a generous, increasing dividend." Ryder System (R)Source: Shutterstock Dividend Yield: 4.4% Forward P/E: 8.3Most investors will recognize the name Ryder System (NYSE:R) as the company that rents moving vans and self-driven trucks to consumers, and that's certainly a key part of its business. The company is so much more than that, however. Ryder also arranges for long-term corporate leases of heavy haulers, offers fleet maintenance services and will even manage the delivery aspect of a supply chain for its customers.It's anything but a recession-proof business. And, with the economy seemingly slowing down against a backdrop of never-ending tariff chatter, R stock doesn't feel like the safest name to own.With a yield of 4.4% and the equally good chance that the global economy is going to be rekindled by an eventual end to the tariff war though, Ryder System is arguably too cheap to pass up at less than nine times next year's expected earnings. Citigroup (C)Source: Shutterstock Dividend Yield: 3.1% Forward P/E: 7.8Finally, add Citigroup (NYSE:C) to your list of dividend stocks to buy sooner rather than later.Yes, it certainly appears to be in the wrong place at the wrong time. Lower interest rates make the business of lending money less profitable by compressing the spread between its costs of capital and what it's able to charge borrowers. And, two weeks ago the big bank confirmed it … its reducing its base lending rate by a quarter of a percentage, from 5.5% to 5.25%. The move impacted all new loans made since Aug. 1.The assumptions about the depth of the impact may be overblown though. Even as he was explaining the rationale for last month's quarter-point rate cut, Federal Reserve Chairman Jerome Powell was already cautioning that the FOMC reserves the right to ramp up rates again if it sees any hint of unchecked inflation. Reading between the lines, it's a subtle clue that the Fed doesn't want to cut rates again when it will have a chance to in September. * 7 5G Stocks to Buy Now for the Future All the worst possible news may already be priced into C stock, and more.As of this writing, James Brumley held a long position in AT&T. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future The post 10 Cheap Dividend Stocks to Load Up On appeared first on InvestorPlace.
Merck's (MRK) Keytruda is rapidly gaining strength as a key contributor to the company's top line. The Keytruda development program is also progressing well.
Cerevel announced Wednesday that Bain Capital principal Orly Mishan has moved from a space on the company's board of directors to become its new chief business officer.
Vaccinex (VCNX) completes enrollment in a phase Ib/II study of its pipeline candidate pepinemab in combination with Bavencio for treating advanced non-small cell lung cancer.
Deciphera's (DCPH) pipeline candidate, ripretinib, improves progression free survival in a pivotal study evaluating it in previously treated, advanced gastrointestinal stromal tumors.
U.S. stock futures are aiming for their third lower open in a row. Ahead of the bell, futures on the Dow Jones Industrial Average are down 0.19%, and S&P 500 futures are lower by 0.19%. Nasdaq-100 futures have lost 0.25%.Source: Shutterstock In the options pits, put volume took the lead during yesterday's stock drop. With overall volume settling near average levels, however, the session lacked signs of panic. By the closing bell, about 16.2 million calls and 16.9 million puts traded.We did see an uptick in fear at the CBOE though. The single-session equity put/call volume ratio ramped to 0.78, nearing its high water mark for 2019. Meanwhile, the 10-day moving average ticked higher to 0.75.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOptions activity was buzzing in Uber (NYSE:UBER), Pfizer (NYSE:PFE) and Roku (NASDAQ:ROKU) on Monday.Let's take a closer look: Uber (UBER)The bottom fell out from under Uber Monday, driving the ride-hailing giant to its lowest closing price ever at $37. Since reporting earnings last Thursday, UBER stock has lost 13.9% amid heavy volume. Its intraday low of $36.08 from the day after its IPO beckons and will soon be tested.Uber's quarterly results showed a massive $5.2 billion loss that has shareholders rushing for the exits. Deteriorating fundamentals and bearish technicals always form a toxic brew. I suspect the big earning miss will keep a lid on UBER for the remainder of the quarter. Couple that with a now extremely bearish price trend and spectators have little reason to buy.The stock is dead money at best. Wait for an uptrend to emerge before even thinking about bullish plays. * 10 Real Estate Investments to Ride Out the Current Storm Monday's options trading reflected sellers' dominance. Puts outpaced calls with activity growing to 234% of the average daily volume. In total, 119,490 contracts traded with puts accounting for 58% of the sum.Implied volatility popped to 47%, halting Friday's strong volatility crush after earnings. Pfizer (PFE)Pfizer stock's descent accelerated Monday, pushing the pharmaceutical titan to a new 52-week low. The 2.6% whack saw heavy volume flashing again in a long line of distribution days. Last month's earnings and the announcement that the company was spinning off its generic drug business with Mylan (NYSE:MYL) have rattled its stock price and created confusion over what impact the move will have on Pfizer's dividend.Since last year's peak, PFE stock has lost 24% and is offering what could turn out to be a compelling long-term buying opportunity. Significant support looms at $34, and the stock is flashing some extreme oversold readings, suggesting the time for a rebound is nigh. Naked puts such as the Sep $34 strike offer a compelling high probability trade if you're looking to bank on the bounce.On the options trading front, traders favored puts on the day. Activity swelled to 189% of the average daily volume, with 122,018 total contracts traded. Puts accounted for 53% of the take.The increased demand drove implied volatility higher on the day to 26%, placing it at the 54th percentile of its one-year range. Premiums are juiced, which makes selling puts all the more attractive. Roku (ROKU)Roku's bid for world domination continued in earnest Monday with the video streaming service rocketing to a new record high of $136.55. By day's end, the gains were pared, but ROKU stock still notched a new closing high. Buyers' enthusiasm following last week's better-than-expected earnings has been off the charts and reflects just how in love the Street has become for the stock.In the short run, ROKU is flashing extreme overbought readings. The red-hot stock will likely cool over the coming days as profit-taking strikes to lock-in the recent good fortune. Given the powerful uptrend, however, you should view all weakness as a buying opportunity. * 7 AI Stocks to Watch With Strong Long-Term Narratives As far as options trading goes, calls led the way with activity rising to 159% of the average daily volume at 152,478 contracts. Calls added 54% to the session's sum.Increased demand halted the post-earnings volatility crush, pushing the metric back up to 62%. That lands it at the 28th percentile of its one-year range. Premiums are now pricing in daily moves of $5.27 or 3.9%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Real Estate Investments to Ride Out the Current Storm * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk * 7 Safe Dividend Stocks for Investors to Buy Right Now The post Tuesday's Vital Data: Uber, Pfizer and Roku appeared first on InvestorPlace.
The market opened the new week up within reach of a bullish start, but as the day wore on, doubts grew. By the time Monday's closing bell rang, the S&P 500 had fallen 1.22%, breaking under a key support level in the process.Source: Shutterstock Advanced Micro Devices (NASDAQ:AMD) gets more blame for the marketwide weakness than any other name. The tech stock fell more than 5% as profit-takers locked in unrealized gains stemming from last week's big advance. Pfizer (NYSE:PFE) proved problematic too, slumping 2.6% to extend what has become a sizeable selloff rooted mostly in fear about the future of healthcare.Other blue chips like Bank of America (NYSE:BAC) were also uncomfortably deep in the red, with BofA down 2.5% as worries about the impact of lower interest rates linger.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Real Estate Investments to Ride Out the Current Storm As for the best bets heading into Tuesday's session though, it's the stock charts of Hormel Foods (NYSE:HRL), Centene (NYSE:CNC) and Advance Auto Parts (NYSE:AAP) that merit the closest looks. Here's why. Centene (CNC)The last time Centene was put under the trading microscope in early July, it had just bumped into a convergence of technical resistance to renew a long-standing downtrend. But, even within that longer-term selloff, the move looked like it was going to throw CNC into a high-velocity selloff that once again tested the lower boundary of a bearish trading range.That happened, though with little follow-through. A bounce a couple of weeks later unwound that selling effort before it got going in earnest. The whole pullback was renewed last week, however, at a familiar resistance level. Monday's poor start to the week suggests another attempt to reach the lower edge of the range is in the works. * Click to EnlargeThe resistance level that rekindled the selling is a combination of the purple 50-day moving average line, the gray 100-day line and the straight-line resistance that marks all the peaks since late 2018 with a yellow line. * Monday's close of $47.98 was the lowest close in weeks, suggesting the market's broad bearish tide is easily up-ending an already weakened Centene stock. * The most plausible stopping point for any prolonged selloff is either the blue or red lines plotted on both stock charts, lining up the key lows made since late last year … one way or another. Advance Auto Parts (AAP)Just a couple of weeks ago, Advance Auto Parts shares were putting significant technical pressure on a horizontal floor at $149. It had been seen before, but not in this way. This time, AAP had clearly met resistance at a key moving average line, and a so-called death cross where the 50-day moving average line falls below the 200-day moving average has taken shape just a few days prior.The floor did end up breaking down, letting Advance Auto Parts slide under that floor. The bulls tried to recover last week, but yesterday's setback largely renews the selloff that has been developing for weeks. * 7 Safe Dividend Stocks for Investors to Buy Right Now * Click to EnlargeThe horizontal floor is plotted as a yellow dashed line on both stock charts, linking all the key lows made since late last year. * The bearish gap left behind two weeks ago almost kick-started a rebound move. But, as soon as the gap was filled in, the bears dug in again. * Although the floor around $149 has snapped, there's still a chance the 32.2% Fibonacci retracement line around $143.24 could be offering support. If it fails to hold as well, the 61.8% retracement level lines up nicely with a contentious line in the sand from early 2018. Hormel Foods (HRL)Hormel Foods stock took a hard shot in April, but the recovery effort since then has not only been effective, it has been well organized. That clear structure sets the stage for a breakout thrust if (and only if) HRL stock can blast past a major technical ceiling.The good news is, the underpinnings for such a move have already been established. The momentum is technically already in place. Click to Enlarge * The momentum is evidenced by the string of higher lows made since late April, with the one exception of May's intraday crash that may have actually served as a capitulation. * Bolstering the budding bullish effort is a healthy swell of buying volume. The volume surge behind the late-July gains has even prompted the Chaikin line back above the zero level. * The make-or-break ceiling, of course, is the $42.20 area, where the white 200-day moving average line is, and where the stock has found a horizontal ceiling for the past few weeks, marked in yellow on both stock charts.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Real Estate Investments to Ride Out the Current Storm * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk * 7 Safe Dividend Stocks for Investors to Buy Right Now The post 3 Big Stock Charts for Tuesday: Centene, Hormel Foods and Advance Auto Parts appeared first on InvestorPlace.
With the change of leadership for GSK's pharmaceutical business, the Triangle won't necessarily be losing its GSK leader.
China continues affecting global markets in a variety of ways. Today, long-running protests in Hong Kong are being viewed as one of the reasons for another glum performance by U.S. equities.Here's some backstory: Protests have been running for over 10 consecutive weeks in Hong Kong and stem from legislation on mainland China that would provide for the extradition of criminals captured in Hong Kong to China where they would face stiffer punishment. On Monday, protests lead to the cancellation of flights in and out of Hong Kong's airport, one of the busiest in the Asia-Pacific region.For investors in the U.S., the Hong Kong protests are relevant because they are against the backdrop of the U.S.-China imbroglio. China is likely to focus more on cleaning up its own backyard over the near-term than making nice with the U.S. That is concerning for riskier assets.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks Under $7 to Invest in Now "With Hong Kong protests challenging Beijing's authority and President Xi Jinping's focus, China might not back down in the trade battle when it wants to project strength," according to Barron's. "In a note on Monday, Goldman Sachs says the equity market has priced in a likelihood of a U.S.-China deal at just 13%, down from nearly 80% in April (before talks were scuttled in May). Goldman economists don't expect a trade agreement before the November 2020 U.S. presidential election."And thus, the Nasdaq Composite slid by 1.20% today while the S&P 500 lost 1.23%. The Dow Jones Industrial Average gave up 1.49% to start the week. Pre-Earnings JittersEarnings season is mostly in the rear view mirror, but there are some Dow components reporting this week and those names were sinking along with the broader market Monday.For example, Walmart (NYSE:WMT), the largest U.S. retailer, lost 2.07% ahead of its Aug. 15 earning report. Analysts are expecting the company to earn $1.21 per share for its most recently completed fiscal quarter, down from $1.29 a share a year earlier.In theory, Walmart should be a valid shelter from the storm play because it's classified as a consumer staples stock, a highly defensive sector. However, the stock is lower by 7% this month because retailers, no matter how large, have significant tariff exposure and they will be forced to pass those higher costs onto shoppers.Shares of Cisco Systems (NASDAQ:CSCO) lost 1.86% today, extending the month-to-date slide to over 8%. The networking gear giant reports earnings on Wednesday, Aug. 14 with Wall Street expecting EPS of 75 cents, up from 65 cents a year earlier.Earlier today, J.P. Morgan analyst Samik Chatterjee reiterated an "overweight" rating and $62 price target on Cisco. The analyst "says Cisco's 'accelerating top-line momentum'--driven by product cycles in campus switching and security--as well as a coming product tailwind in Wi-Fi equipment, 'will allow the firm to offset macro headwinds,'" reports Barron's. Pfizer Failure Hurts DowShares of Pfizer (NYSE:PFE), the largest U.S. pharmaceuticals stock, slid 2.64%, ranking as the fourth worst-performing member of the Dow today. Pfizer is down more than 15% month-to-date, belying its normally defensive reputation. There are reasons for long-term investors to like Pfizer stock. Actually, lots of reasons. The yield of almost 4% is hard to ignore in this environment, but Pfizer's chart is a mess, indicating better pricing could be available soon. Bottom Line on Dow Jones TodayThe following factoids are brief, but are revealing about the current state of affairs for equities. It is only slight hyperbole to say everyone is piling into gold and gold ETFs and it is no exaggeration to say major banks are raising price targets on bullion.And while stocks with the low volatility designation (real estate, utilities, etc.) are looking expensive, data suggest investors don't care. Over the past 90 days, the Invesco S&P 500 Low Volatility ETF (NYSEARCA:SPLV) has taken in $1.02 billion in new assets, nearly quadruple the amount of the issuer's second-best ETF over that same period.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Sell Right Now * 7 Stocks Under $7 to Invest in Now * 7 Marijuana Stocks With Critical Levels to Watch The post Dow Jones Today: Doth Thou Protest appeared first on InvestorPlace.
Investing.com – Stocks fell sharply Monday afternoon and money poured into bonds again as worries about global trade battles grew.
Shares of Pfizer Inc. dropped 3.6% in afternoon grading Monday, putting them on track to close at a 14-month low, as the drugmaker extends the rough patch in the wake of its second-quarter earnings report and announcement to merge its Upjohn business with Mylan Inc. . The stock, which was the biggest decliner among the Dow Jones Industrial Average's components, is headed for the 9th decline in 11 sessions since the company reported earnings on July 29. During the stretch, the stock has shed 18.6%, which puts it on track for the lowest close since May 9 ,2018. It has now shed 19.6% year to date, while the SPDR Health Care Select Sector ETF has gained 4.7% and the Dow Jones Industrial Average [s; djia] has advanced 11.4%.
Pfizer stock has tumbled, behind pharmaceutical stocks. Recent news has been upbeat with a drug approval and acquisitions. But the question remains: Is Pfizer stock a buy right now?
Despite lower demand hurting volumes of Enbrel, it remains the largest drug for Amgen (AMGN). A district court decision prevents Novartis from launching Erelzi, its biosimilar version of Enbrel.