Category: Uncategorized

Eagle Pharmaceuticals Inc. shares plummeted 20.6% in heavy afternoon trade Wednesday on news that the company’s exertional heat stroke drug failed to receive Food and Drug Administration approval. The FDA asked for another clinical trial on the drug, the company said. Last year, the drug, Ryanodex, was given a priority review designation, which is intended for therapies that would significantly improve safety or effectiveness of a treatment. Eagle Pharma said it is reviewing its options and will evaluate the FDA’s response. Exertional heat stroke happens during physical activity due to organ tissues getting overheated, which can cause harm and even death. Eagle Pharma stock has plummeted 37.7% over the last three months to $55.95, compared with a 3.8% rise in the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Eagle Pharmaceuticals Inc. shares were halted in midday trade Wednesday on news that the company’s exertional heat stroke drug failed to receive Food and Drug Administration approval. The FDA asked for another clinical trial on the drug, the company said. Last year, the drug, Ryanodex, was given a priority review designation, which is intended for therapies that would significantly improve safety or effectiveness of a treatment. Eagle Pharma said it is reviewing its options and will evaluate the FDA’s response. Exertional heat stroke happens during physical activity due to organ tissues getting overheated, which can cause harm and even death. Eagle Pharma stock has plummeted 21% over the last three months to $70.72, compared with a 3.9% rise in the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Taiwanese electronics manufacturer Foxconn, maker of Apple Inc.’s iPhone, will unveil plans to build a factory in southeastern Wisconsin later Wednesday, the Washington Post reported, citing four officials with knowledge of the announcement. The plant will make flat-screen displays and is expected to create up to 10,000 jobs, according to Wisconsin Assembly Speaker Robin Vos, the paper reported. Foxconn chairman Terry Gou told President Donald Trump he would invest at least $7 billion in the U.S. and create up to 50,000 jobs. Foxconn contracts with most major tech companies and have more than a million workers in Asia, Europe and South America. The announcement is expected to be made at 5 p.m.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Boeing Co.’s stock price surge after second-quarter results has made it the most influential component of the Dow Jones Industrial Average , vaulting it ahead of second place Goldman Sachs Group Inc. . The Dow is a price weighted index, rather than weighted by market capitalization, like some other major market indexes including the S&P 500 and Nasdaq Composite . Boeing’s stock is now the Dow’s highest priced at $230.10, meaning each 1% move would affect the Dow’s price by about 16 points. Meanwhile, Boeing’s market cap ranks 20th of the Dow’s 30 components at $138.9 billion, or less than one-fifth the market cap of Apple Inc. at $800.7 billion. A 1% move in Apple’s stock would affect the Dow by about 10.5 points. The top 3 Dow influencers are now Boeing, Goldman and 3M Co. , even thought their combined market cap is less than half that of Apple.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Rep. Steve Scalise has been discharged from MedStar Washington Hospital Center, the hospital announced Wednesday. The House majority whip was shot last month at a baseball practice ahead of a congressional game. “Yesterday, he was discharged from MedStar Washington Hospital Center and is now beginning a period of intensive inpatient rehabilitation. He is in good spirits and is looking forward to his return to work once he completes rehabilitation,” the hospital said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Dow Jones Transportation Average slumped 46 points, or 0.5%, in midday trade Wednesday, to take some of the shine of the Dow Jones Industrial Average’s triple-digit point rally to record highs, following disappointing results from Norfolk Southern Corp. and Alaska Air Group Inc. . Shares of Alaska Air slumped $2.74, or 3.1%, after the air carrier missed earnings expectations while was roughly in line, according to FactSet. The stock’s price decline was shaving about 17 points off the Dow transports’ price. Meanwhile, Norfolk Southern shares shed $3.47, or 2.9%, after the railroad company beat profit expectations but just matched on sales. The price drop was reducing the Dow transports by about 21 points. The Dow transports have gained 4.4% year to date, while the Dow industrials have rallied 9.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News