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Fast Money Picks For August 3rd (DE, CBS, PFE, XOM, SLV)
Tuesday, August 2, 2011 - 8:18pm | 272On CNBC's Fast Money, Stephen Weiss recommended a long position in Deere & Company (NYSE: DE). He explained that he is bearish on this market, but some stocks are getting really cheap and Deere & Company (DE) is one of those stocks. Deere & Company (DE) lost 2.41% today, and it closed...
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The New World Order of Global Sovereigns
Tuesday, August 2, 2011 - 6:06pm | 1082By EconMatters The U.S. debt ceiling political soap has finally come to an end. With the debt deal done, the U.S. has dodged a major bullet of a debt default, but is not out of the woods yet for a sovereign credit downgrade. The big three rating agencies are still reviewing the debt deal, and have...
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NPS Pharmaceuticals Announces New Calcilytics Agreement with GlaxoSmithKline
Tuesday, August 2, 2011 - 4:00pm | 72NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) today reported that it has entered into a new agreement with GlaxoSmithKline (NYSE: GSK), that terminates and replaces a prior collaborative research and license agreement between NPS and GSK from 1993, which focused on the discovery and development of small...
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Aw Snap, Is Market Gonna Crackle or Pop?
Tuesday, August 2, 2011 - 3:53pm | 1055Cusick's Corner The vote is over. The debt crisis, well at least the missed payment, has past until 2013 and the market is now focused on the data that continues to disappoint. The Spending data is flagging a less than active consumer, a potential signal of a slowing employment market, while...
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Lannett Announces Chief Financial Officer Resignation
Tuesday, August 2, 2011 - 2:34pm | 36Lannett Company, Inc. (NYSE: LCI) today announced that Keith Ruck has resigned as chief financial officer to pursue other interests. The company expects to name a successor shortly.
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Mylan Announces U.S. PTO Intends to Reissue Two Perforomist Patents to Dey Pharma
Tuesday, August 2, 2011 - 1:50pm | 108Dey Pharma L.P., a subsidiary of Mylan Inc. (Nasdaq: MYL), today announced that the U.S. Patent and Trademark Office intends to reissue both of the patents related to Perforomist® (formoterol fumarate) Inhalation Solution 20 mcg/2mL vial that had been placed into reexamination by Sepracor, now...
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Jefferies Reiterates Buy and PT of $24 on Pfizer
Tuesday, August 2, 2011 - 9:31am | 54Jefferies reiterated its Buy rating on Pfizer (NYSE: PFE). At the same time, the rating agency left its price target on the company's stock unchanged at $24. On Monday, PFE closed the day at $19.01. Its shares lost 0.26% of their value in today's pre-market trading to stand around $18.96.
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Earnings Roundup
Tuesday, August 2, 2011 - 9:30am | 1919Archer Daniels Midland Co (NYSE: ADM) reported a decline in its fiscal fourth-quarter profit. Archer Daniels Midland reported its quarterly profit at $381 million, or $0.58 per share, down from $446 million, or $0.69 per share, in the year-earlier period. Analysts were expecting earnings of $0.85...
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UPDATE: Morgan Stanley Lowers PT from $26 to $18 on Auxilium Pharmaceuticals
Tuesday, August 2, 2011 - 9:14am | 109Morgan Stanley has published a report on Auxilium Pharmaceuticals (NASDAQ: AUXL) lowering the price target from $26.00 to $18.00. In the report, Morgan Stanley wrote, " We originally saw an inflection for Xiaflex with broader physician acceptance. The June injection metrics continue to show...
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Oppenheimer Downgrading Teva Pharmaceutical
Tuesday, August 2, 2011 - 8:21am | 175Oppenheimer & Co. is out with a research report on Teva Pharmaceutical (NASDAQ: TEVA) and is downgrading shares to Perform from Outperform, and removing the $65 price target. In a note to clients, Oppenheimer & Co. writes, "We are downgrading shares of TEVA from Outperform to Perform, and...
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Oppenheimer Downgrades TEVA To Perform, Removes PT
Tuesday, August 2, 2011 - 8:03am | 25Oppenheimer has downgraded Teva Pharmaceuticals (NASDAQ: TEVA) from Outperform to Perform and has removed its $65 price target.
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Benzinga's Top Pre-Market Losers
Tuesday, August 2, 2011 - 7:54am | 100MetroPCS Communications Inc (NYSE: PCS) dipped 10.38% to $14.50 in the pre-market session. PCS reported downbeat Q2 profit. Archer-Daniels-Midland Company (NYSE: ADM) lost 6.10% to $28.62 in the pre-market session. ADM reported weaker-than-expected fiscal fourth-quarter profit. Pfizer Inc (NYSE...
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News Summary for August 2, 2011
Tuesday, August 2, 2011 - 7:53am | 516This is your Benzinga news summary and traders' outlook for Tuesday, August 2, 2011, covering headlines from overnight and Tuesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading lower even after the House voted to pass a deal to raise the nation's debt...
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Benzinga's Top Downgrades
Tuesday, August 2, 2011 - 7:49am | 121eResearch Technology Inc (NASDAQ: ERT) was downgraded by Benchmark Company from "buy" to "hold." ERT's shares closed at $6.43 yesterday. ERT's trailing-twelve-month profit margin is 6.97%. Deutsche bank downgraded Teekay Tankers Ltd (NYSE: TNK) from “buy” to “hold.” TNK's stock closed at $8.39...
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Citi Maintains Hold on Pfizer
Tuesday, August 2, 2011 - 7:36am | 111Citi is out with its report today on Pfizer (NYSE: PFE), maintaining Hold. In its report, Citi writes, "We rate the shares of Pfizer Hold/High Risk (2H). While we believe that PFE's strategy of downsizing the company back to its research roots moves the company in the right direction, we believe...