Bristol Myers: Opdivo Failed to Meet Endpoint in Key Lung-Cancer Study
Updated Aug. 5, 2016 10:09 a.m. ET Bristol-Myers Squibb Co. said a trial investigating its blockbuster cancer drug Opdivo as a therapy for advanced non-small cell lung cancer failed to meet its primary endpoint. Shares in the company dropped 17% to $62.21 in early trading, erasing roughly $22 billion of the company’s market value and nearly all of the stock’s gains since mid-March. Meanwhile, shares of Merck & Co. rose 6.8% as the result suggests sales of its rival immunotherapy..>> view originalCanada's Trade Deficit Hit a Record in June
OTTAWA—Canada’s trade deficit with the rest of the world swelled to a record level in June and missed expectations by a wide margin, capping off the worst quarterly performance for exports since the height of the global financial crisis in 2009. Canada’s trade deficit widened to 3.63 billion Canadian dollars ($2.79 billion) in June, Statistics Canada said Friday. Economists anticipated a C$2.8 billion deficit, according to Royal Bank...>> view originalTrump's campaign may be hurting traffic to Trump properties
Donald Trump's campaign to make America great again may not be so great for his businesses. There has been a clear decline in foot traffic to Trump-branded golf courses, hotels and casinos in the U.S. since Trump entered the presidential race last June, according to data released Thursday from Foursquare (yes, that Foursquare). The data, based on the activity of Foursquare's 50 million monthly users, shows a growing falloff in visits starting in March as Trump emerged as the frontrunner f..>> view originalGoldman Sachs Slapped With $36.3 Million Fine In Fed Case Over Confidential Information Leak
Goldman Sachs will cash out $36.3 million in fines to settle an allegation that it used illegally leaked materials from the Federal Reserve. The civil settlement was unveiled on Aug. 3 by the Fed, which claims that a Goldman Sachs executive orchestrated a system to get regulatory secrets and make use of them inside the bank. According to the charges, the executive tapped into confidential Fed information between 2012 and September 2014. According to the Fed, Goldman's business directly benefite..>> view originalAmazon unveils cargo plane as it expands delivery network
Seattle-based Amazon is unveiling its first branded cargo plane, one of 40 jetliners that will make up the e-commerce giant's own air transportation network as it takes more control of its delivery process.The latest push to speed delivery of its products comes as the company ships an increasing number of packages worldwide. Amazon's parcel volume was an estimated 1 billion packages in 2015 — the same number that FedEx delivered three years earlier for hundreds of thousands of customers. Amazon..>> view originalTrump's economic team has six men named Steve but no women
Republican presidential nominee Donald Trump speaks at a campaign rally on Aug. 1 in Mechanicsburg, Pa. (Dominick Reuter/AFP/Getty Images) Republican presidential nominee Donald Trump announced an economic advisory team on Friday that is heavy on investing and corporate experience but includes no women — and six men named Steve. The 13-member group features several longtime Trump business associates but only one academic economist, Peter Navarro of the University of California at Irvine. He..>> view originalThe Real Losers of Uber's Exit From China
Minxin Pei is a professor of government at Claremont McKenna College. Given the circumstances, Uber Technologies appears to have done the right thing, at least for its investors. After losing $1 billion a year before the deal in a self-destructive price war with its Chinese rival, Didi Chuxing, the U.S. ride-hailing company finally decided to sell itself to the competition. What makes this transaction worth noting is not the business acumen of Uber’s senior management, but the perfect record Be..>> view originalStrong Job Gains, for Second Month, Reframe Economic Outlook
Stock markets in the United States opened higher on Friday after the report’s release.June’s gain was revised upward by 5,000 jobs, and May by 13,000. The combination of better gains in the spring and July’s jump in hiring suggest that the Federal Reserve may take a fresh look at raising interest rates when it meets in September.The Fed said in July, after the most recent meeting of its policy-making committee, that the economy was growing more strongly and there were fewer clouds on the horizo..>> view originalBerlusconi signs deal to sell full AC Milan stake
A view of the AC Milan soccer team headquarters in Milan, Italy, Friday, Aug. 5, 2016. Silvio Berlusconi has signed a deal to sell his full stake in the soccer club AC Milan to Chinese investors, yet another entry into European soccer by cash-rich Chinese firms. Berlusconi’s Fininvest investment arm said Friday that the deal with a Chinese investment group values the club at 740 million euros and requires the investors to spend 350 million euros over three years on improvements. (Antonio Cal..>> view original
Sunday, August 7, 2016
Bristol Myers: Opdivo Failed to Meet Endpoint in Key Lung-Cancer Study and other top stories.
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