Pfizer Inc. (PFE: News ) said Friday the U.S. Food and Drug Administration approved its kidney cancer drug Inlyta to treat patients with advanced renal cell carcinoma who failed a standard treatment.
The approval follows an unanimous recommendation by a FDA panel last month that Inlyta (Axitinib) had a favorable benefit-risk profile.
Regards,
Don
Caterpillar Inc. (CAT: News ) on Thursday reported a 60 percent surge in profit for the fourth quarter, reflecting strong demand for its mining equipment. Both earnings per share and revenue topped analysts’ expectations. Looking ahead to fiscal year 2012, the company forecast earnings and revenue above analysts’ estimates.
Regards,
Don
Automaker Ford Motor Co. (F:News ) on Friday reported a profit for the fourth quarter that soared from last year, boosted by a one-time tax gain and higher revenues. However, operating earnings declined from a year ago and missed analysts’ expectations, reflecting operating losses in Europe and Asia.
For 2011 as a whole, Ford posted its third consecutive annual profit under Chief Executive Officer Alan Mulally and the company’s best ever since 1998. The company’s shares are down 5 percent in pre-market.
Regards,
Don
Amylin Pharmaceuticals, Inc. (AMLN: News ) and Alkermes plc (ALKS:News ) said Friday that the U.S. Food and Drug Administration has approved Bydureon, the first once-weekly treatment for type 2 diabetes.
The approval was based on safety and efficacy data from the DURATION clinical trial program, in which treatment with Bydureon resulted in improvements in glycemic control with just one dose per week.
Regards,
Don
The dollar has experienced modest weakness against its major rivals in U.S. trading on Friday as traders mulled over a gross domestic report that fell short of analyst expectations. Meanwhile, traders anxiously awaited the verdict on Greece’s plan voluntarily restructuring its sovereign debt.
Regards,
Don
Gold futures moved higher for a third straight day on Friday, closing at a seven-week high as the dollar continued to weaken.
Prices were also supported by some disappointing data showing that the U.S. economy grew less-than-expected in the fourth quarter. Gold prices gained 4.1 percent for the week.
Regards,
Don
After a two-day winning streak, U.S. crude oil futures closed modestly lower on Friday on a weak dollar and some disappointing economic data from the U.S. showing that the economy grew by less-than-expected in the fourth quarter.
Light Sweet Crude Oil futures for March delivery dipped $0.14 or 0.1 percent to settle at $99.56 a barrel on the New York Mercantile Exchange on Friday. Crude prices had reached a high of $100.63 a barrel intraday and a low of $99.13 a barrel. Crude prices shed 1.3 percent for the week.
Regards,
Don
Toronto stocks were back in positive territory on Friday amid renewed hopes of a satisfactory resolution to Greece’s talks with private creditors on a partial write-off of its sovereign debt. Nonetheless, disappointing economic data from the U.S. limited the upside.
Regards,
Don
The Swiss stock market pulled back on Friday. The market was weighed down by the poor performance of both financial stocks and the economically sensitive cyclicals. Disappointing U.S. economic news and financial results also dragged the Swiss market lower.
Regards,
Don
Indian shares extended their recent sharp gains on Friday, as the Federal Reserve’s extension of the timeframe of its ultra-loose monetary policy until 2014 and a stronger rupee, which touched a fresh two-and-a-half month high in the afternoon, bolstered hopes for sustained FII inflows. Investors are also expecting the government to unveil a raft of investor-friendly policies in the upcoming budget.
Regards,
Don
Stocks turned in a relatively lackluster performance over the course of the trading day on Friday as traders digested a report showing somewhat weaker than expected U.S. economic growth in the final three months of last year.
Regards,
Don
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