• Bristol-Myers' Melanoma Study Misses Goal, Closes Celgene Deal
    Zacks

    Bristol-Myers' Melanoma Study Misses Goal, Closes Celgene Deal

    Bristol-Myers' (BMY) late-stage study evaluating the Opdivo-Yervoy combo fails to meet a co-primary endpoint of recurrence-free survival in melanoma patients. The company wraps up Celgene acquisition.

  • GBP/USD Price Forecast – British Pound Rallies
    FX Empire

    GBP/USD Price Forecast – British Pound Rallies

    The British pound rallied again during the trading session on Thursday, as we continue to look at the 1.30 level as a major barrier. At this point, the market is respecting that area as major resistance, so it looks like we will still find plenty of trouble.

  • Blueprint Medicines (BPMC) Upgraded to Buy: What Does It Mean for the Stock?
    Zacks

    Blueprint Medicines (BPMC) Upgraded to Buy: What Does It Mean for the Stock?

    Blueprint Medicines (BPMC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).

  • GBP/USD Daily Forecast – Sterling Rises and Holds Above Critical Trendline
    FX Empire

    GBP/USD Daily Forecast – Sterling Rises and Holds Above Critical Trendline

    After trading a bit heavy in the early week, GBP/USD is starting to show upward momentum. More importantly, it has held above a previously broken trendline which signals more upside.

  • GBP/USD – Pound Drifting, Manufacturing and Services PMIs Loom
    FX Empire

    GBP/USD – Pound Drifting, Manufacturing and Services PMIs Loom

    The British pound is trading sideways for a second straight day and I expect the currency to continue to drift throughout Thursday trade. We could see some volatility on Friday, as the U.K. releases key manufacturing and services reports.

  • U.S – China Trade Tensions Could Spike and Overshadow the Numbers…
    FX Empire

    U.S – China Trade Tensions Could Spike and Overshadow the Numbers…

    The HK Bill in support of the protestors is on its way to the Oval Office. Trump’s signature may well raise doubts over a phase 1 trade agreement.

  • GBP/USD, EUR/GBP, USD/CAD – Currencies in Holding Pattern Ahead of Fed Minutes
    FX Empire

    GBP/USD, EUR/GBP, USD/CAD – Currencies in Holding Pattern Ahead of Fed Minutes

    Investors await the release of the Federal Reserve minutes, and predictably, there is little movement ahead of this major event. We could see some volatility from the British pound and Canadian dollar after the release, which is scheduled for 17:00 GMT.

  • Zacks.com featured highlights include: Bristol-Myers Squibb, Urban Outfitters, Hewlett Packard, Cardinal Health and British American Tobacco
    Zacks

    Zacks.com featured highlights include: Bristol-Myers Squibb, Urban Outfitters, Hewlett Packard, Cardinal Health and British American Tobacco

    Zacks.com featured highlights include: Bristol-Myers Squibb, Urban Outfitters, Hewlett Packard, Cardinal Health and British American Tobacco

  • Signs That Your Trading Will Ruin Your Retirement - November 20, 2019
    Zacks

    Signs That Your Trading Will Ruin Your Retirement - November 20, 2019

    Achieving your retirement goals takes a much different investing approach than regular stock trading, from smartly managing risk to keeping emotions in check.

  • Bristol-Myers misses main goal of late-stage skin cancer trial
    Reuters

    Bristol-Myers misses main goal of late-stage skin cancer trial

    The company said the trial will continue unchanged as per the recommendation of a data monitoring committee. The trial was testing Bristol-Myers' drugs Opdivo and Yervoy, against Opdivo alone, in patients with advanced melanoma. The American Cancer Society estimates that about 96,480 melanoma cases will be diagnosed in the United States this year.

  • GBP/USD Daily Forecast – Sterling Extends Losses After Failure at 1.3000
    FX Empire

    GBP/USD Daily Forecast – Sterling Extends Losses After Failure at 1.3000

    GBP/USD made a bullish break in the early week but fell under pressure just ahead of a test of the psychological 1.30 level. The pair is seen continuing lower ahead of today’s Fed meeting minutes release.

  • Investing.com

    U.S. Dollar Flat as Tensions With China Rise Over Hong Kong

    Investing.com - The U.S. dollar was flat on Wednesday ahead of the expected release of the Federal Reserve meeting minutes and as tensions between Washington and Beijing rose.

  • The US and China Let the Market Breathe After the Rally
    FX Empire

    The US and China Let the Market Breathe After the Rally

    The US president once again used his favourite tactic, raising the level of tension in trade negotiations with China.

  • Investing.com

    Stocks - Target, Lowe’s Rise Premarket; Urban Outfitters Falls

    Investing.com - Stocks in focus in premarket trading on Wednesday:

  • Geopolitics, FOMC Meeting Minutes and Canadian Inflation in Focus
    FX Empire

    Geopolitics, FOMC Meeting Minutes and Canadian Inflation in Focus

    Trade tensions, UK politics, the FOMC meeting minutes and inflation figures out of Canada will keep the markets busy throughout the day…

  • GBP/USD, EUR/GBP, USD/CAD – Limited Gains for Euro, U.S. Dolllar
    FX Empire

    GBP/USD, EUR/GBP, USD/CAD – Limited Gains for Euro, U.S. Dolllar

    The U.S. dollar is pointing higher on Tuesday. The greenback is slightly higher against the Canadian dollar, while the pound has lost some ground against both the U.S. dollar and the euro.

  • GBP/USD Price Forecast – British Pound Continues To Chop Around
    FX Empire

    GBP/USD Price Forecast – British Pound Continues To Chop Around

    The British pound continues to be all over the place as we have no idea what to do with Brexit. At this point, the market is banking on the 1.30 level, an area that would unleash massive gains.

  • Bloomberg

    ‘Hipster Antitrust’ Might End the Megamerger Party

    (Bloomberg Opinion) -- A few months ago, a group of Democratic senators, several of them presidential candidates and all members of the Senate’s antitrust subcommittee(1), wrote a letter to Joseph Simons, the Republican chairman of the Federal Trade Commission, to criticize two monster pharma deals under regulatory review: the $63 billion Allergan PLC-AbbVie Inc. merger, and Bristol-Myers Squibb Co.’s $74 billion purchase of Celgene Corp.Consolidation in the pharmaceutical industry, the senators wrote,is occurring against a backdrop of ever-rising prescription drug spending….It is more important than ever that the FTC take appropriate action to protect consumers. The Federal Trade Commission must carefully consider whether the proposed transactions may lessen competition, stifle innovation, or harm consumers.“The proposed AbbVie/Allergan and Bristol-Myers Squibb/Celgene transactions,” they added, “raise significant antitrust issues.”The FTC has not yet ruled on the Allergan-AbbVie deal, which was only announced in June, and which the companies hope to complete in early 2020.But on Friday, Simons and the two other Republican commissioners on the five-member FTC brushed aside the concerns of the Democrats and approved the Bristol-Myers Squibb deal with Celgene. Its only condition was that Celgene sell Otezla, its blockbuster psoriasis drug, apparently because Bristol-Myers Squibb has a promising psoriasis drug of its own in a phase 3 trial. The FTC has historically frowned on merged drug companies keeping overlapping drugs, fearing excessive market control.The FTC’s two Democratic commissioners, Rohit Chopra and Rebecca Kelly Slaughter, dissented, something Chopra in particular has made a habit of doing since he joined the FTC in 2018. During the Obama administration, Chopra was the student loan ombudsman at the Consumer Financial Protection Bureau, where he attempted to spur competition in student lending.  At the FTC, he quickly gained a reputation for being in the vanguard of what’s sometimes called “hipster antitrust” — the effort to infuse new thinking into the antitrust arena.Much of this new thinking has been spurred by the rise of the big three tech giants, Facebook Inc., Alphabet Inc.’s Google, and Amazon.com Inc. Chopra has criticized the fines the FTC has levied against Facebook and YouTube (which is owned by Google), saying that “when a company can pay a fine from its ill-gotten gains, that’s not a penalty — that’s an incentive.”  He seeks remedies that will diminish their market power and permanently alter their behavior.But Chopra isn’t just focused on Big Tech. He believes that in industry after industry, concentration has gone too far. The result, he concludes, has been less innovation, higher barriers to entry for new market entrants and higher prices for consumers. And because the FTC must approve mergers in a variety of sectors — chemical companies, agricultural concerns and, yes, pharmaceuticals — he is in a position to do something about it. Or rather, he may be soon, depending on the result of the 2020 election.Which is also why his dissents are worth noting. They offer an insight into how a Democratic administration might tackle market power and industry consolidation at a time when the status quo no longer seems acceptable.At the FTC, there has long been a bipartisan consensus that so long as two drug companies didn’t have overlapping products — or if they were willing to divest them — the merger would be approved. This long-standing practice, Chopra wrote in his dissent, is no longer good enough: “Some evidence shows that these mergers have choked off innovation, creating harms that are immeasurable for those waiting for a cure.”  He then lays out all the elements of Bristol-Myers Squibb merger with Celgene that he believes the FTC should have considered:This massive $74 billion merger between Bristol-Myers Squibb (NYSE: BMY) and Celgene (NASDAQ: CELG) may have significant implications for patients and inventors, so we must be especially vigilant. In my view, this transaction appears to be heavily motivated by financial engineering and tax considerations (as opposed to a genuine drive for greater discovery of lifesaving medications), without clear benefits to patients or the public….In addition, there are also concerns about a history of anticompetitive conduct.(2)Expansive investigation for mergers like these is time well spent.He then goes on to list the questions he believes the FTC should have tried to answer—questions that go well beyond overlapping drugs:Will the merger facilitate a capital structure that magnifies incentives to engage in anticompetitive conduct or abuse of intellectual property? Will the merger deter formation of biotechnology firms that fuel much of the industry’s innovation? How can we know the effects on competition if we do not rigorously study or investigate these and other critical questions? Given our approach, I am not confident that the Commission has sufficient information to determine the full scope of potential harms to competition of this massive merger.Here is something else Chopra believes: The FTC has plenty of statutory authority to bring antitrust actions — or block mergers on antitrust grounds. It’s just that it has rarely used that authority, preferring instead to take the same laissez faire approach as the Justice Department and the courts. “What we’re advocating is not radical,” Chopra told me recently. “It’s a restoration. We have to see this as a core part of the economic policy tool kit.”So far in this early phase of the presidential race, corporate executives have tended to focus on, say, Elizabeth Warren’s wealth tax. That’s understandable, but a wealth tax will require Congress to pass a bill. So will Medicare For All, and any number of policies the various Democratic candidates hope to implement.But changing the government’s approach to antitrust — getting tougher on mergers and maybe even calling for some companies to be broken up — doesn’t require legislation. When a group of senators (some of whom also happen to be presidential candidates) writes to the FTC calling for greater scrutiny of a big pharma merger — and a leading light of the new antitrust movement is in the vanguard — it’s a pretty good bet that this is one thing that will change if there’s a new administration.Brace yourselves, Corporate America. The merger party may be coming to an end.(1) Its official name is the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights.(2) Chopra’s dissent links to this 2018 NPR article, about the steps Celgene took to keep its multiple myeloma drug, Revlimid, away from generic competition.To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Timothy L. O'Brien at tobrien46@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • 4 Big Biotech Stocks Worth Considering Post Q3 Earnings
    Zacks

    4 Big Biotech Stocks Worth Considering Post Q3 Earnings

    We highlight a few principal players from the biotech sector, which are likely to witness a winning run in the near term.

  • Novo Nordisk Inks Deal With Dicerna to Develop RNAi Therapies
    Zacks

    Novo Nordisk Inks Deal With Dicerna to Develop RNAi Therapies

    Novo Nordisk (NVO) inks deal with Dicerna Pharmaceuticals to discover and develop novel therapies for the treatment of liver-related cardio-metabolic diseases.

  • 5 Excellent GARP Stocks With Discounted PEG
    Zacks

    5 Excellent GARP Stocks With Discounted PEG

    PEG-based investing becomes more rewarding when other relevant parameters are considered.

  • Powerful Proof Anyone Can Invest for an Early Retirement - November 19, 2019
    Zacks

    Powerful Proof Anyone Can Invest for an Early Retirement - November 19, 2019

    Achieving the financial freedom to retire early is a dream for most, but making that dream a reality isn't as tricky as it sounds. If you are willing to make some serious lifestyle changes and sacrifices, it can be possible.

  • 3 Reasons Growth Investors Will Love Bristol-Myers (BMY)
    Zacks

    3 Reasons Growth Investors Will Love Bristol-Myers (BMY)

    Bristol-Myers (BMY) could produce exceptional returns because of its solid growth attributes.

  • GBP/USD Daily Forecast – Sterling Eases Lower Following Technical Break
    FX Empire

    GBP/USD Daily Forecast – Sterling Eases Lower Following Technical Break

    GBP/USD made a notable bullish technical break on Monday but lost momentum ahead of the 1.3000 handle to fall into a range.

  • Asian Equities Unable to Keep Up With US Stocks’ Climb
    FX Empire

    Asian Equities Unable to Keep Up With US Stocks’ Climb

    Asian stocks are mixed, unable to stay in lockstep with their US counterparts which marched on to post fresh record highs.

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