About one in 19 generic drugs sold in the U.S. during the past three years have undergone major price hikes that may be consistent with collusion, according to a wide-ranging study that comes in the middle of a sprawling Justice Department investigation into pharmaceutical price-fixing. Fideres Partners LLP, a London-based consultancy that works with law firms to bring litigation against companies, reported “anomalous pricing patterns” in scores of generic drugs sold in the U.S. from 2013 to 2016.
Day: December 22, 2016
Pengrowth Energy Corp Is Edging Away From Financial Disaster
Unless commodity prices dramatically improve, the company would not remain in compliance with certain of its financial covenants in the second half of 2017. Because of this situation, the company needed to find a solution to avoid a disaster.
Las Vegas Building Boom Off to a Disappointing Start
In March 2013, Genting Group bought an 87-acre plot of land on the north end of the Las Vegas Strip for $350 million, promising to build a new resort there by sometime in 2016. A little over a year later, Australian billionaire James Packer bought a controlling interest in a 35 acre plat just south of Genting, planning to begin construction on a new resort in 2015.
The deal expands THR-Billboard Media Group’s online audience to 45 million readers a month.
The Hollywood Reporter-Billboard Media Group today announced that it has signed a definitive agreement to acquire SpinMedia’s storied music assets Spin , Vibe and Stereogum , establishing the world’s largest music brand by digital traffic, social reach and audience share. “In recent years, we set out to own the topic of music online, and the acquisition of these incredible music assets helps us do just that,” said Media Group co-president John Amato.
European Stocks Mixed as London Gains, Other Markets Fall
The headline event from the session was again the looming collapse of Monte Paschi , the Italian lender, after a debtvswap it carried out left it a 3 billion short of the capital it needs to raise in order to recapitalize itself following a planned loan sale. With its share sale having closed on Thursday afternoon, market expectations are that Monte Paschi is now nationalized, marking the first major bank failure since the financial crisis.
Airbus Seals Deal With Iran for Sale of Jets
Airbus finalizes an agreement to sell Iran Air 100 jets less than two weeks after Boeing inked a similar deal. European plane manufacturer Airbus says it’s sealed a deal to sell 100 jets to Iran, less than two weeks after American rival Boeing inked a similar contract.
TheStreet’s Top Muscle Car of 2016 Is a 707-Horsepower Animal That Will Stop Your Heart
The qualifications for TheStreet ‘s “Top Muscle Car of 2016” were absurdly simple — one, is the car stupid fast and two does it borderline frighten you to death with the gas pedal pressed to the floor? After all, those emotions are what defines driving a piece of American muscle, no? Suffice it to say TheStreet’s hands-down winner this year was the Dodge Challenger Hellcat, which we had the awesome pleasure of driving around for several days. Runner up was the Dodge Charger Scat Pack .
Stanley Black & Decker’s Willingness to Change Make Shares a Buy
This toolmaker may not be a “sexy” stock, but the 150-plus year old company is in the midst of a transformation. Stanley Black & Decker is an American toolmaker with more than 150 years of history, but it is embracing change.
This Drug Retailer Isn’t Worried About Possible Obamacare Repeal
President-elect Donald Trump has made the elimination of the Affordable Care Act a top priority, but Walgreens Boots Alliance will thrive, regardless. In fact, it stands to benefit.
Twitter Could Really Use a Win in Its Final NFL Matchup
The New York Giants aim to clinch a playoff berth Thursday night when they play the Philadelphia Eagles at Lincoln Financial Field. Twitter , which will stream the final game in its partnership with the National Football League, also has skin in the game.
Don’t Let Rising Rates Scare You Away From Bonds
High-quality bonds have taken a beating lately, but they still make sense for the long-term investor. On top of that, the market indicates there is less risk of default now than there was a few months ago.
US Economic Data Augur Trouble
We got the third estimate of 3Q GDP today and it came in higher than expected at 3.5%. The main contributors were a big rise in durable goods’ investment and net exports, which improved by $36.3 billion.
Long INTC or NVDA? Here’s How to Protect Your Gains
Looking at the charts of these two companies I can only suggest a stop-loss level if the charts turn neutral or bearish. In this one-year daily chart of INTC, above, we can see that prices for INTC have been in a broad sideways trading range since July.
Amazon Could Be Treacherous for Netflix
In this one-year daily chart, above, we can see NFLX flirting with its highs near $130. Volume was heavy on the gap to the upside in October but it has generally diminished from that point.
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Research and Markets has announced the addition of the “Global Document Camera for Smart Classroom Market 2016-2020” report to their offering. The report forecasts the global document camera for smart classroom market to grow at a CAGR of 11.54% during the period 2016-2020.
Analysts’ Actions — Las Vegas Sands, Red Hat, Greif and More
Here are Thursday’s top research calls, including downgrades for Greif and Red Hat, and new coverage of Las Vegas Sands. Aegion was upgraded to buy at TheStreet Ratings.
GDP Picked Up in Third Quarter, But it May Not Last
Gross domestic product increased at an annual rate of 3.5% between July and September, the Commerce Department said. That was quicker than the department estimated last month.
How to Trade Chevron, Exxon Mobil as They Lag Crude Oil
As crude oil sets new 2016 highs, so do shares of Chevron and Exxon Mobil, with Chevron eking out a new high on Wednesday. Here’s how to trade them.
Trade Defense Stocks After a Gap Higher, a Slump — and Trump Uncertainty
Defense and infrastructure spending is likely to be on the rise in 2017, and defense stocks General Dynamics, Lockheed Martin and Northrop Grumman could benefit. General Dynamics , Lockheed Martin and Northrop Grumman gapped higher in tandem on Nov. 9 following the election victory by Donald J. Trump.
Bad Sign for Twitter’s Stock: Company Executives Are Jumping Ship
There is more trouble at the social-media giant as two more of its top managers head for the exits. Should investors stay committed? And Twitter doesn’t even seem to be able to hold the affections of its own executives.
Here’s How to Profit Now as Apple Thumbs Its Nose at Donald Trump
Despite the president-elect’s threats, the technology company is making inroads in India, which could be a boon for investors. Technology juggernaut Apple has thumbed its nose at President-elect Donald Trump, and investors seem to approve , sending the stock higher.
2016 was a Terrible Year for Biotech but the Tweets Were on Point
I hesitated while pasting together this Bio-Twitter Year in Review because… Does anyone really want to remember what happened in 2016? Don’t all raise your hand at once. 2016 was a lousy year for biotech investors.
No Room For The Inn as Japanese Informal Accommodation Booms
All is not well in the world of Japanese hospitality. There appears to be a structural shift under way in the market that investors should not ignore.
On China and Housing Markets: Everything Is Coming Up Roses
While Wednesday was a quiet day for markets, with the S&P drifting just barely lower on anemic volume, we did get a couple of news items that deal with some of the major themes for 2017. The first is a perennial favorite of market bears, China.
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Software corporation Oracle is asking the Federal Communications Commission to reconsider the sweeping broadband privacy rules passed earlier this year. Oracle, which spent years unsuccessfully attempting to prove that Google’s Android code infringes copyright, says the FCC’s recent order on privacy will give Google an unfair advantage against Internet service providers.
Sweetgreen Is Going Fully Cashless In 2017
What’s in your wallet? In 2017, Sweetgreen will go fully cashless in all 64 of its stores after successfully testing the concept for about a year, cofounders Jonathan Neman and Nicolas Jammet tell Fast Company . Next year, the fast-casual restaurant chain plans on opening another 30 storefronts in the eight markets where it currently does business.
Roth IRAs Can Help Ward Off the – Ghost of Retirement Future’
The spooky ghost scenes from “A Christmas Carol” are perfect metaphors for the past, present and future worries that haunt our retirement savings dreams. For some, Roth IRAs – which tend to see an annual spike in online search interest beginning during the holiday season – can help keep that “Ghost of Retirement Future” at bay.
US economic growth revised even higher
The world’s largest economy grew at an annualised rate of 3.5% in the quarter, up from an earlier estimate of 3.2%, the Commerce Department said. The Commerce Department said consumer spending, which accounts for more than two-thirds of the US economy, increased at a rate of 3%, compared with the previous estimate of 2.8% and the initial estimate of 2.1%.
Trench coat maker Aquascutum sold for A 97m
But after the British firm was saved from administration in 2012, it has become mainly focused on China and last year saw its UK sales fall 16%. Hong Kong-based YGM Trading, which bought it for A 15m four years ago, said Aquascutum is due to be sold in March 2017 to two buyers.
U.A.E. Expects Oil Prices to Rise More on Global Production Cuts
Oil prices may rise even more once investors see that OPEC and other major producers are fulfilling an agreement to cut production to curb the global glut, United Arab Emirates Oil Minister Suhail Al Mazrouei said. OPEC is committed to the decision to reduce output and it’s too early to talk about any additional steps it may take, Al Mazrouei told reporters in Abu Dhabi.
Legal & General Names Davies to Replace Gregory as Finance Chief
Legal & General Group Plc said Jeff Davies, a senior partner at Ernst & Young LLP, will replace Mark Gregory as the U.K. company’s chief financial officer after the publication of its 2016 preliminary results. Gregory will step down from Legal & General’s board when Davies starts his new job, though he will stay at the company until Aug. 31, the company said in a statement on Thursday.
BofA’s Moynihan Says Businesses Are Friskier After Trump Victory
Bank of America Corp. doesn’t expect Donald Trump’s election to jolt the U.S. economy next year, but its corporate customers are enthusiastic and already seeking funds to expand, according to Chief Executive Officer Brian Moynihan. Mid-sized companies “are friskier, they’re more active,” Moynihan, 57, said in an interview with Bloomberg Television’s David Westin for broadcast Thursday.
Gold Miners Are Running Out of Metal: Five Charts Explaining Why
Gold’s had a roller-coaster year, surging as much as 30 percent before giving up the bulk of those gains. But one trend has been consistent: mining companies are finding it harder to dig up more of the precious metal.
Weekly Jobless Claims Rise by 21,000
Weekly jobless claims rose by 21,000 to 275,000 last week. That came in higher than the 256,000 estimate. The prior week was unchanged at 254,000
The Kia K900 reflects a welcome trend: Cheaper, more available safety technology
The 2016 Kia K900 comes with a standard 3.8-liter gasoline V-6 engine . The option package of advanced safety features is worth its cost.