Archive for December 21st, 2009

Wall Street jumps on pharma boost, upgrades (Reuters)

Stocks mounted a broad advance on Monday after a key healthcare reform bill advanced in the Senate and brokerages upgraded Dow components Intel Corp and Alcoa Inc on improving profit prospects.

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Cytori Therapeutics shares fall on downgrade (AP)

Shares of Cytori Therapeutics Inc., which makes products used in adult stem cell harvesting and research, fell Monday as a Rodman & Renshaw analyst downgraded the stock after its value topped his 12-month price target.

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Javelin shares fall following analyst downgrade (AP)

Shares of Javelin Pharmaceuticals Inc. slipped Monday after an analyst downgraded the stock, saying she was disappointed by the buyout offer from Myrian Pharmaceuticals the company accepted.

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Palm shares rise after Morgan Joseph upgrade (AP)

Palm Inc. shares rose Monday after a Morgan Joseph analyst upgraded the smart phone maker following a recent drop in stock price.

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Alcoa shares up on Saudi Arabia venture, upgrade (AP)

Shares of Alcoa Inc. rose sharply Monday after announcing an $10.8 billion joint venture with Saudi Arabia to develop an aluminum industry complex and after an analyst raised his rating on the aluminum producer.

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Sector Snap: Health insurers surge after key vote (AP)

Shares of health insurance providers leaped Monday after a key Senate vote on the country’s health care overhaul put legislation on track for passage before Christmas.

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Sector Snap: Fertilizer makers climb (AP)

Shares of Mosaic Co. and Potash Corp. of Saskatchewan Inc. gained Monday as the broader market rose and a Goldman Sachs analyst said now is a good time to buy stock in the fertilizer makers.

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Walgreen tops view, store comments weigh on shares (Reuters)

Walgreen Co gave investors reasons to question its drugstore overhaul strategy on Monday with muted comments about its success, overshadowing a better-than-expected jump in quarterly profit.

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Incyte shares rise on Eli Lilly deal (AP)

Shares of Incyte Corp. jumped Monday after the company struck a development deal with Eli Lilly & Co. potentially worth up to $665 million for inflammatory and autoimmune condition treatments.

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Healthcare shares rise as reform bill progresses (Reuters)

Healthcare shares rose on Monday as a bill to reform healthcare passed the first critical test in the Senate, without many of the provisions, such as a government-run health insurance option, that investors most feared would hurt profits.

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