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U.S. stock market report
1133 EST 18Dec2009
Wells Fargo starts coverage on oil and gas firms
Wells Fargo on Friday started coverage on 13 oil and gas companies, saying the industry was generally inventory rich though constrained of capital.
The analyst started Atlas Energy Inc, Swift Energy Co and Cabot Oil & Gas Corp with 'outperform.'
On Atlas Energy, the analyst said strong midstream relationship creates advantage for the company.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1126 EST 18Dec2009
European experts recommend Amgen, Glaxo bone drug
Amgen's keenly awaited new drug Prolia, or denosumab, has been recommended for approval in Europe as a treatment for the brittle bone disease osteoporosis, the European Medicines Agency said on Friday.
The green light from a panel of experts at the agency paves the way for its launch in European markets in 2010.
For details, see
Shares of Amgen rose 2.1 percent to $55.73.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1119 EST 18Dec2009
Dow, S&P 500 fall as U.S. dollar rises
The Dow industrials and the S&P 500 turned negative on Friday as the dollar rose amid Iran-Iraq tensions and cut into gains in the materials and energy sectors.
The Nasdaq outperformed the broader market on upbeat results from technology companies Oracle Corp and Research In Motion Ltd.
The Dow Jones industrial average fell 33.71 points, or 0.33 percent, to 10,274.55. The Standard & Poor's 500 Index dropped 1.04 points, or 0.09 percent, to 1,095.04. The Nasdaq Composite Index gained 12.94 points, or 0.59 percent, to 2,192.99.
Iranian soldiers crossed into Iraqi territory on Friday, and took up positions at a southern oilfield whose ownership is disputed by Iran, a senior Iraqi official said. For details see .
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1109 ET 18Dec2009
Lilly wins drug patent case vs Dr Reddy's
The UK Court of Appeal upheld the validity of Eli Lilly's patent on its blockbuster schizophrenia drug Zyprexa on Friday, dealing a blow to generic challenger Dr Reddy's Laboratories.
The U.S. drugmaker said it welcomed the ruling, which confirmed the validity of the key composition of matter patent protecting Zyprexa, or olanzapine, from generic competition.
For details, see
Shares of Eli Lilly were up 0.3 percent at $35.57.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1103 ET 18Dec2009
Potash shares fall after Soleil downgrade
U.S.-listed shares of Potash Corp of Saskatchewan fell on Friday after Soleil Securities downgraded the stock to 'sell' from 'hold.'
The firm cited valuation and falling potash prices.
'Price chatter on China is getting even more negative, with price talk now closer to $300 per tonne than to $400 per tonne just a few weeks ago,' the firm wrote to clients.
For details, see
The stock fell 4.5 percent to $106.85 on the New York Stock Exchange.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time Equity news
U.S. stock market report
1133 EST 18Dec2009
Wells Fargo starts coverage on oil and gas firms
Wells Fargo on Friday started coverage on 13 oil and gas companies, saying the industry was generally inventory rich though constrained of capital.
The analyst started Atlas Energy Inc, Swift Energy Co and Cabot Oil & Gas Corp with 'outperform.'
On Atlas Energy, the analyst said strong midstream relationship creates advantage for the company.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1126 EST 18Dec2009
European experts recommend Amgen, Glaxo bone drug
Amgen's keenly awaited new drug Prolia, or denosumab, has been recommended for approval in Europe as a treatment for the brittle bone disease osteoporosis, the European Medicines Agency said on Friday.
The green light from a panel of experts at the agency paves the way for its launch in European markets in 2010.
For details, see
Shares of Amgen rose 2.1 percent to $55.73.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1119 EST 18Dec2009
Dow, S&P 500 fall as U.S. dollar rises
The Dow industrials and the S&P 500 turned negative on Friday as the dollar rose amid Iran-Iraq tensions and cut into gains in the materials and energy sectors.
The Nasdaq outperformed the broader market on upbeat results from technology companies Oracle Corp and Research In Motion Ltd.
The Dow Jones industrial average fell 33.71 points, or 0.33 percent, to 10,274.55. The Standard & Poor's 500 Index dropped 1.04 points, or 0.09 percent, to 1,095.04. The Nasdaq Composite Index gained 12.94 points, or 0.59 percent, to 2,192.99.
Iranian soldiers crossed into Iraqi territory on Friday, and took up positions at a southern oilfield whose ownership is disputed by Iran, a senior Iraqi official said. For details see .
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1109 ET 18Dec2009
Lilly wins drug patent case vs Dr Reddy's
The UK Court of Appeal upheld the validity of Eli Lilly's patent on its blockbuster schizophrenia drug Zyprexa on Friday, dealing a blow to generic challenger Dr Reddy's Laboratories.
The U.S. drugmaker said it welcomed the ruling, which confirmed the validity of the key composition of matter patent protecting Zyprexa, or olanzapine, from generic competition.
For details, see
Shares of Eli Lilly were up 0.3 percent at $35.57.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1103 ET 18Dec2009
Potash shares fall after Soleil downgrade
U.S.-listed shares of Potash Corp of Saskatchewan fell on Friday after Soleil Securities downgraded the stock to 'sell' from 'hold.'
The firm cited valuation and falling potash prices.
'Price chatter on China is getting even more negative, with price talk now closer to $300 per tonne than to $400 per tonne just a few weeks ago,' the firm wrote to clients.
For details, see
The stock fell 4.5 percent to $106.85 on the New York Stock Exchange.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
