Pfizer Drops A Bomb. Do You Take This Drug?

  • December 17, 2004
  • Brice Wightman

Stocks are lower on this options Friday
after Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) dropped a bomb before the open. The company said
that a study showed an increased in cardiovascular risk with 800mg of Celebrex.
The usual arthritis dose is 100-200 mg. PFE is trading down 14%.

November CPI came in at +02% with Core CPI also +0.2%, both in-line.

Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) and OSI Pharmaceuticals
(
OSIP |
Quote |
Chart |
News |
PowerRating) are
higher after Astrazeneca said its Iressa failed in a major study.OSIP is trading
up $22 before the bell.

Nike
(
NKE |
Quote |
Chart |
News |
PowerRating) reported a 46% rise in profit.

News Corp.
(
NWS |
Quote |
Chart |
News |
PowerRating) will be added to the S&P 500 at the close of
business today

Strong sectors are:  Pharmaceuticals
(
DRG.X |
Quote |
Chart |
News |
PowerRating) +1.72%,
Healthcare
(
HCX.X |
Quote |
Chart |
News |
PowerRating) +1.15%, Consumer
(
CMR.X |
Quote |
Chart |
News |
PowerRating) +0.44%

Weak sectors are: Healthcare Providers
(
HMO.X |
Quote |
Chart |
News |
PowerRating) -1.50%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -1.32%, Oil
(
XOI.X |
Quote |
Chart |
News |
PowerRating) -1.09%.

Dow -45.53 10,662.11
S&P 500 -7.70 1,195.51
Nasdaq -4.73 2,141.42

The dollar is -0.35 at
82.15

Crude Oil is +1.99 at
46.50

Gold is +4.70 to 443.70

ce=”Arial” size=”2″ face=”Arial”>Volume is 1.17 billion on the NYSE and
1.15 billion on the Nasdaq.

Market breadth is negative.

NYSE Issues
Advancing 1204 Up Vol 300
Declining 1954 Down Vol 798
Ratio 1.62 2.66
Nasdaq
Advancing 1212 Up Vol 494
Declining 1758 Down Vol 747
Ratio 1.45 1.51

Stocks in the News

Palm One
(
PLMO |
Quote |
Chart |
News |
PowerRating) guided lower.

Take Two
Interactive (TTWO)
missed by 0.19 and guided lower.

Tektronics (TEK)
beat by 0.09 but guided lower.

Adobe (ADBE)
beat by 0.02 but analysts were disappointed that the company didn’t guide
higher.

Circuit City
(
CC |
Quote |
Chart |
News |
PowerRating) reported a narrower quarterly loss.

This Day in History

1903  Wright Brothers first flight

1965 Houston Astrodome opened

Brice Wightman