$50,000 Wall St. Secret Now Yours for $0.21/Day
For Learn the trading strategy behind Matt Maley's 7,847% gain. It's the same one hedge funds pay $50,000 a year for. Get Matt's $50,000 Secret Now.
For Immediate Release
Chicago, IL – April 28, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: United States Steel Corporation (X), Merck (MRK), Forest Laboratories (FRX), GlaxoSmithKline (GSK) and Pfizer (PFE).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Tuesday’s Analyst Blog:
Loss Narrows at U.S. Steel
United States Steel Corporation (X) reported a net loss of $157 million or $1.10 per share in the first quarter of 2010 compared to a net loss of $267 million or $1.86 per share in the fourth quarter and a net loss of $439 million or $3.78 per share in the year-ago quarter. This was the fifth consecutive quarter that the company has reported a net loss.
The net loss per share came in at much lower than the Zacks Consensus Estimate of a loss of $1.44. Sales came in at $3.9 billion, up 16.1% sequentially and up 42% year over year. United States Steel reports in four segments including Flat-Rolled Product, U.S. Steel Europe (USSE), Tubular Products and Other Businesses.
Management stated that overall loss reduced significantly sequentially due to improving business conditions and a strong operating performance. U. S. Steel returned to profitability in Europe and results were strong for the Tubular segment.
Merck Acquires Daxas Rights
Recently, Merck (MRK) entered into a co-promotion agreement with Nycomed for the commercialization of Daxas (roflumilast) in Canada and certain European countries. The drug is meant to treat patients with chronic obstructive pulmonary disease (COPD). The two companies have also signed a distribution agreement for Daxas in the UK. The drug has been developed with Forest Laboratories (FRX).
Nycomed will receive undisclosed upfront fees and payments on the achievement of certain milestones. The marketing application for Daxas was submitted in Europe, Canada and the US in 2009.
Last week, Nycomed received a positive opinion from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP), recommending the approval of Daxas in the EU.
Given the huge unmet medical need in the COPD market, Daxas could generate substantial revenues once approved and commercialized. Currently marketed therapies in the COPD market include GlaxoSmithKline's (GSK) Advair and Pfizer's (PFE) Spiriva
Although the favorable opinion in Europe is a positive development for commercialization of Daxas, its approval in the US encountered a roadblock recently. Earlier this month, the US Food and Drug Administration’s (FDA) Pulmonary-Allergy Drugs Advisory committee voted 10-5 against granting approval to Daxas.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com
Zacks Investment Research
$50,000 Wall St. Secret Now Yours for $0.21/Day
For Learn the trading strategy behind Matt Maley's 7,847% gain. It's the same one hedge funds pay $50,000 a year for. Get Matt's $50,000 Secret Now.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!