Pfizer News Sends Blue Chips Down
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The Dow Jones industrial average fell  on Friday after Pfizer Inc. PFE.N shares opened nearly 19  percent down on trial data for its popular arthritis drug  Celebrex that showed increased risk of heart attack.
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U.S. blue chips were lower on Tuesday,  as a drop in phone company Verizon Communications Inc. VZ.N  overshadowed a brokerage upgrade on Caterpillar Inc. CAT.N  and a three-session drop in oil prices.
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U.S. stocks closed lower on Friday,  weighed down by a number of negative reports from top drug  makers, including Pfizer Inc. PFE.N, and a $2 jump in the  price of crude oil.
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U.S. blue chips slipped lower on  Monday as a disappointing sales forecast from Wal-Mart Stores  Inc. WMT.N dampened sentiment toward retailers, although  pharmaceuticals benefited as investors changed their focus to  less volatile stocks.
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U.S. blue chips ended lower on Monday  as a disappointing sales forecast from Wal-Mart Stores Inc.  WMT.N cast a pall over sentiment, overshadowing a two-session  pullback in oil prices.
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US BLUE-CHIP stocks slid lower yesterday, pulled down by industrial bellwether Caterpillar, but technology shares remained higher after EBay posted strong earnings.
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US stocks fell as setbacks for drugmakers, including a study showing Pfizer Inc.&#39;s Celebrex painkiller increased the risk of heart attacks, sent health-care shares tumbling.
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The blue-chip Dow Jones average fell  on Thursday after drug maker Merck & Co., a member of the Dow,  recalled its widely sold Vioxx painkiller and oil prices  hovered around $50 a barrel.
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Risk is knocking Big Pharma stocks down. They won't be getting up anytime soon.
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Stocks dropped in very heavy trading Friday as fresh concerns about pharmaceuticals, coming after Pfizer Inc. announced a troublesome health study of its Celebrex drug, overshadowed news of subdued growth in consumer prices and inflation.
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Pfizer Inc.  shares  tumbled as much as 15.6 percent on Monday, wiping out nearly  $30 billion of market value, after the world's biggest drug  maker unexpectedly ended development of its most important  experimental medicine.
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Drug makers failed to bounce back from a Thursday slide, with many drug stocks closing down Friday as drug giant Pfizer Inc. and generic drug challenger Alpharma Inc.
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Blue chips closed lower, with the banking reporting season off to a bad start as mid-cap Bradford & Bingley's shares lost 23 percent after its results, and the Bank of England's hawkish inflation report having a more widespread negative effect, though Wall Street was higher.
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The blue-chip Dow Jones average fell  on Thursday after drug maker Merck & Co.MRK.N withdrew its  widely used Vioxx painkiller after evidence showed the drug  could increase risk of heart attack and stroke.
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Investors in pharmaceuticals were dealt  a triple whammy on Friday as Pfizer Inc, AstraZeneca Plc and  Eli Lilly and Co all shocked the market with bad news about key  products.
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U.S. blue chips were lower on Thursday  after drug company and Dow component Merck & Co.MRK.N said it  was withdrawing a key drug, casting a dark mood over the market  as oil prices remained above $49 a barrel.
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Investors dumped shares of Pfizer Inc. today in response to the drug giant's weekend announcement that it has halted development of a potential blockbuster cholesterol treatment.