Eli Lilly FALLS SHORT of Endpoint Goals and 4 Hot Stocks Driving the Market
salesforce.com, inc. (NYSE:CRM) revenue for the company’s full fiscal year 2013 is expected to be in the range of $3.025 billion to $3.035 billion, which is a 33 percent to 34 percent rise year-over-year. Shares of salesforce.com, inc. are trading 0.25% higher today.
The Madison Square Garden Co (NASDAQ:MSG) reports a Q4 MSG Entertainment revenue totaling $50.8 million compared to $36 million. MSG Sports revenue totaled $131.2 million compared to $75.4 million. Shares of The Madison Square Garden Co are trading 5.07% higher today.
Eli Lilly & Co. (NYSE:LLY) announced that the primary endpoints, both cognitive and functional, were not reached in either of the two Phase 3, double-blind, placebo-controlled solanezumab EXPEDITION trials in patients suffering from mild-to-moderate Alzheimer’s disease. On the other hand, a pre-specified secondary analysis of pooled data across both trials indicated statistically significant slowing of cognitive decline within the overall study population of patients suffering from mild-to-moderate Alzheimer’s disease. Also, pre-specified secondary subgroup analyses of pooled data across both studies indicated a statistically significant slowing of cognitive decline in patients suffering from mild Alzheimer’s disease, but not in patients with moderate Alzheimer’s disease. Adverse events with an incidence of a minimum of 1 percent which occurred statistically significantly more in the solanezumab group than in the placebo group were lethargy, rash, and malaise in EXPEDITION1 and angina in EXPEDITION2. An ongoing, open-label extension study, EXPEDITION-EXT, has been fully enrolled and will continue as planned. “We recognize that the solanezumab studies did not meet their primary endpoints, but we are encouraged by the pooled data that appear to show a slowing of cognitive decline,” stated John C. Lechleiter, Ph.D., chairman, president and CEO, Lilly. “We intend to discuss these data with regulatory authorities to gain their insights on potential next steps.” Shares of Eli Lilly & Co. are trading 2.71% higher today.
The Hain Celestial Group, Inc. (NASDAQ:HAIN) shares jumped 16 percent to $66.11 during early Thursday following the organic foods marketer’s statement that it intends to purchase certain packaged food lines from U.K.-based Premier Foods PLC for nearly $318 million in cash and stock. The deal should close by October’s end, and could add nearly 25 cents a share to Hain’s fiscal 2013 earnings. Shares of The Hain Celestial Group, Inc. are trading 2.73% higher today.
Bank of America (NYSE:BAC): SEC member Luis Aguilar has decided to vote against new rules regarding money-market funds when he learned on vacation that that SEC Chairman Mary Schapiro’s office offered lawmakers a report concerning the risks of money funds that he thought were misleading, according to the Wall Street Journal. Shares of Bank of America are trading 0.27% higher today.
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