Apple’s Anti-Competition Issues, ONYX Shoots Down Amgen, and 2 More Hot Stocks
Apple (NASDAQ:AAPL): Antitrust authorities in France have apparently raided Apple’s local offices, as a part of an on-going investigation into the possibility that the company is anti-competitive. Independent retailers have alleged that Apple violates existing agreements with them in favor of its own stores. Separately, Apple has indirectly confirmed the existence of the iWatch, as it has filed a request to trademark the term “iWatch” in Japan.
ONYX Pharmaceuticals, Inc. (NASDAQ:ONXX): Shares are racing over 50 percent after the company revealed that it rejected an offer from Amgen (NASDAQ:AMGN) for $120 per share. The company added that its seeking buyers, and several high-profile, big-pharma names are reportedly showing interest, largely due to the company’s injection medication Kyprolis, which is for treatment of multiple myeloma, a cancer of plasma cells which accumulate in bone marrow.
Toyota Motor Corp. (NYSE:TM): Despite significant sales declines in both Japan and India (down 18.3 and 13 percent, respectively), Toyota shares are up slightly. In its native country, auto sales have slumped since last September, when the government -issued subsidies on alternative energy expired, and domestic sales have suffered as a result.
Insmed, Inc. (NASDAQ:INSM): Shares continue to crater even after a substantial drop during premarket, as a result of the company’s report that the results of a Phase III trial for Arikace did not show as well as tobramycin inhalation solution in terms of FEV1, although the treatment achieved the primary non-inferiority endpoint.