This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Health Winners & Losers: ImClone

Health stocks rebounded a bit from Monday's market mess on Tuesday, but slightly underperformed the broader markets.

After losing roughly 3% apiece on Monday, the Nasdaq and Amex biotechnology indices closed up 2.8% and 2.4%, respectively.

Big biotech Amgen regained 6.8%, while Celgene rebounded 13%.

Investors are waiting to hear from ImClone (IMCL) and its mystery flirtation as the deadline draws near for that $70-a-share bidder to make up its mind. The unknown pharmaceutical company will have to make a firm offer or withdraw its bid by midnight Wednesday. ImClone shares closed up 44 cents, or 0.7%, at $62.40.

Shares of Bristol-Myers Squibb (BMY - Get Report), which last week announced a hostile tender for ImClone's shares at $62 a share, closed up $1, or 5.0%, at $20.85.

Pfizer (PFE - Get Report) gave an update on its pipeline, saying that t now has 25 programs in late stage development - up from 16 six months ago. The company said the majority of advances have been in oncology, pain, inflammation, diabetes, Alzheimer's disease and schizophrenia. It is targeting between 15 and 20 regulatory submissions between 2010 and 2012.

The Wall Street Journal reported late Monday that Pfizer would not develop newer products for heart disease, obesity and bone health. Shares were up 79 cents, or 4.5%, at $18.44.

The publication also said that GlaxoSmithKline (GSK) may cut up to 850 more research and development jobs - about 6% of its total R&D staff. Shares of the pharmaceutical company were up $1.38, or 3.2%, at $43.46.

Brean Murray, Carret & Co analyst Jonathan Aschoff started coverage on Auxilium Pharmaceuticals (AUXL) with a sell rating and an $18 price target. Shares were down 60 cents, or 1.8%, at $32.40.

Also, Roth Capital initiated coverage on medical device company Synovis Life Technologies (SYNO) with a hold rating and a $21 price target. Shares were off by 20 cents, or 1.1%, at $18.82.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AUXL $36.47 -0.16%
IMCL $0.35 0.00%
AMGN $144.72 0.00%
BMY $60.20 0.00%
PFE $29.36 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs