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Latest Industry News

Eli Lilly and Incyte stock drops after FDA fails to approve rheumatoid arthritis drug

Eli Lilly & Co. shares dropped 5.5% and Incyte Corp. shares dropped 12.7% in premarket trade Monday after the companies said that the Food and Drug Administration failed to approve their drug for moderate-to-severe rheumatoid arthritis. Eli Lilly reaffirmed its financial guidance for this year, and Incyte said it is evaluating the news' impact and would provide any update on its first-quarter earnings call. (Incyte's earnings are scheduled for May 4.) The FDA told the two companies that more clinical data are required to figure out dosage information and safety concerns across groups of patients. New clinical trials could greatly extend the timeline for drug approval. But Eli Lilly and Incyte said they "disagree with the agency's conclusions" and said they would continue to work with the FDA to find a path to approval. Incyte shares have surged 23.9% over the last three months, and Eli Lilly shares have surged 11.8%, compared with a 2.7% rise in the S&P 500 .

< 1 min ago

S&P 500

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In Energy »

Here comes your next S&P 500 buying opportunity

If you’ve been sitting on the market sidelines, the next window may be about to open. But get ready, as it may scare you a little on the way down.

2 min ago
Georgia Power Pulls Plug on Potential New Nuclear Generation, an Industrial Info News Alert

Georgia Power Pulls Plug on Potential New Nuclear Generation, an Industrial Info News Alert

9 min ago
General Electric earnings: What to expect

General Electric is scheduled to report first-quarter earnings on Friday, before the market opens. Will GE disappoint investors again, like they have with the past five quarterly reports?

33 min ago

In Banking »

U.S. stock futures hint of lower start as geopolitical, economic worries weigh

U.S. stock futures point to a soft open as investors eye geopolitical tensions between the U.S. and North Korea, along with a batch of economic data and wait for another week of potentially big earnings news.

6:29 a.m. Today
Why the Fed shouldn’t scale back its balance sheet

The Federal Reserve should not scale back its $4.5 trillion balance sheet quite yet, writes Peter Morici.

6:07 a.m. Today
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In Technology »

Apple said to be struggling with optical fingerprint sensing

Apple Inc. may have issues with its optical fingerprint sensing functionality, Pacific Crest analysts said Monday, citing conversations with suppliers. The analysts say they do not believe the supplier for Apple's optical fingerprint module has set orders for production, which indicates that Apple may not be ready for it yet. Even if Apple is able to solve the problem within the next month, the analysts say it could lead to a delay of its OLED iPhone. If it takes longer, Apple may have to get rid of fingerprint sensing on the OLED phone and possibly turn to 3D sensing technology. Still, the analysts did not change any estimates for Apple or its suppliers, saying it is still early in the production cycle. The analysts have a $150 price target and overweight rating on Apple. Shares of Apple have gained 17.5% in the past three months, compared to the S&P 500's gain of 3%.

26 min ago
How to Get Out of a Family Favor

Chris Voss, former lead kidnapping negotiator for the FBI and author of "Never Split the Difference," knows how to get what he wants. In this episode of "Everyday Hostages," Voss breaks down how to get out of a family favor or obligation. video content

6:00 a.m. Today
Uber says net revenue outpaced losses in 2016: report

Ride-hailing company Uber Technologies Inc. reported a growing number of bookings in 2016 and net revenue outpacing its net losses, Bloomberg reported Friday. Uber had net revenue of $6.5 billion, on top of adjusted net losses of $2.8 billion, not including its business in China, which it sold. The company disclosed these numbers to Bloomberg, reporting gross bookings of $20 billion in 2016, a 126% increase from the previous year. Uber did not immediately respond to a request for comment.

2:19 p.m. April 14, 2017

In Cars »

Apple obtains permission to test driverless cars

Apple Inc. is the latest tech company to receive permission from the state of California to test autonomous vehicles. The iPhone manufacturer was added to the California Department of Motor Vehicles list of companies that have received a permit for the testing, which also includes Alphabet Inc. , Tesla Inc. , Uber Technologies Inc. and Nvidia Corp. , along with a host of traditional auto makers. Apple has reportedly been working on a car for several years under the code name Project Titan, but has never publicly disclosed the effort despite issuing opinions about regulations for driverless cars and reports of potential acquisitions like luxury car maker McLaren. The reported autonomous-car effort has excited some observers who believe Apple needs to add another big-ticket item to continue to grow as iPhone sales level out, but not everyone believes the company can succeed in the field.

12:35 p.m. April 14, 2017
GM plans to create 1,100 Calif. self-driving car jobs over 5 years: report

General Motors Co. plans to invest $14 million and create more than a thousand jobs in a California facility to advance its self-driving car interests, according to reports late Thursday. GM intends to make that investment in Cruise Automation, which it acquired last year for $1 billion, with plans to add more than 1,100 jobs over the next five years, according to Reuters. Under the plan, GM will get $8 million in state tax credits. Shares of GM were down less than 0.1% at $33.38 after hours.

6:40 p.m. April 13, 2017
Tesla to unveil freight truck in September, Musk says

Tesla Inc. Chief Executive Elon Musk tweeted Thursday that the Silicon Valley company hopes to unveil a freight truck in September, calling it "seriously next level." The unveiling would come just a couple of months ahead of the launch of the Model 3, the small sedan Tesla hopes to sell for $35,000. On a blog post last year about long-term goals for the company, Musk mentioned an electric heavy-duty truck and a "high passenger density urban transport" vehicle, presumably a bus, as well as two other passenger vehicles as the next steps for Tesla. Tesla shares added to gains after the tweet, trading as high as $302.88.

2:06 p.m. April 13, 2017
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In Retail »

U.S. defense stocks easily outperform the broader market

Trump is pushing for greater funding for the companies, whose weaponry has been on display in the news, writes Phil van Doorn.

5:11 a.m. Today
Why retail price cuts don’t always pay off

Many companies aren’t getting much of a return on their price-reduction investment, thanks to consumer perceptions.

5:01 a.m. Today

In Health Care »

Novocure says drug shows better survival rates for cancer patients in late-stage trial

Novocure Ltd. said Monday that its drug for newly diagnosed glioblastoma improved overall patient survival in a late-stage clinical trial. The drug, Optune, improved survival in combination with second line chemotherapy by about 30%, compared to second line chemotherapy alone, between about nine and nearly 12 months, Novocure said. Glioblastoma, or tumors in the brain or spinal cord, grows quickly and is one of the most dangerous cancers. The results have been published in the journal CNS Oncology. Novocure shares, which were valued at $10.45 as of Friday's close, were not yet active in premarket trade on Monday. Shares have surged 58.3% over the last three months, compared with a 2.7% rise in the S&P 500 .

7 min ago
Baxter faces federal criminal inquiry into IV saline sales

Baxter International Inc. said on Friday that the Justice Department's Antitrust Division was pursuing a criminal investigation into sales practices of intravenous saline, including those sold by Baxter. One of Baxter's employees got a grand jury subpoena on Wednesday as part of the investigation, the company said in its 8-K financial filing. Baxter said it is cooperating with the Justice Department on the investigation. The company told MarketWatch that it "has remained a continuous supplier of IV solutions and has made extraordinary efforts to maximize the availability of these critical products," adding that it believes it has priced these products responsibly. The Justice Department would not confirm nor deny the investigation. Baxter has previously said that the New York Attorney General has asked it for more information on this subject, and that the company is cooperating. A lawsuit against Baxter in November of last year claimed that it and other IV solution manufacturers had worked together to restrict supply and raise prices, causing a shortage. Baxter and the Jusice Department did not immediately respond to request for comment. Baxter shares have surged 14.6% over the last three months, compared with a 2.4% rise in the S&P 500 .

3:31 p.m. April 14, 2017
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