GlaxoSmithKline (NYSE:GSK) has received approval of its Boostrix vaccine from the FDA. The vaccine is used to prevent tetanus, diphtheria, and pertussis in people aged 65 or older.
Google (NASDAQ:GOOG) shares were down today after Morgan Stanley (NYSE:MS) cut their rating on the stock from Equal-Weight to Overweight, and lowered their price target from $645 to $600. MS cited the likely decline of Google’s profit margins as its newer businesses fail to effect significant revenue growth, at least in the foreseeable future. The stock continues trading heavily after hours.
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Toyota (NYSE:TM) is trading heavily after announcing that projected losses are likely to be lower than originally expected, thanks to Prius sales. Toyota is rushing to replenish supplies of the hybrid car after a lack of inventory led to a 61% drop in Prius deliveries in the U.S. in June. The Prius accounts for 60% of all hybrid vehicles sold in the U.S. since 1999. It is Toyota’s third best-selling car after the Corolla and Camry, and has been especially popular in the last year as rising fuel prices drive demand for more efficient vehicles. Toyota’s main competitors in the hybrid market are General Motors‘s (NYSE:GM) Chevrolet Cruz, last month’s top-selling car in the U.S., and Ford‘s (NYSE:F) Focus.