Category Archives: oud

New Amazon.com Kindle E-Reader Is Smallest, Lightest Yet

After leaked images and details of the new Amazon.com ( AMZN ) e-reader — which largely proved true — the company announced the official details Wednesday. The new Kindle, called Oasis, is the most expensive, smallest and lightest offering to date. Available for preorder Wednesday at $289.99, the Oasis is 30% thinner and more than 20% lighter than the other Kindles, according to Amazon’s press release . Oasis weighs just 4.6 ounces, and it measures 3.4 millimeters — just more than a 10th of an inch — at its thinnest point. Amazon stock was up 1.5%, near 613, in midday trading on the stock market today . Amazon has an IBD Composite Rating of 78, where 99 is the highest. Shares broke out of a cup-with-handle base with a 603.34 buy point, in high volume. In its release, Amazon touted the two-battery design that the company claims will extend the battery life for “months.” The cheapest Kindle starts at $79.99 but lacks the high-resolution display and other features of the more expensive models, such as the Paperwhite — $119.99 — or the Voyage, which costs $199.99. Amazon does not break out Kindle sales. The Associated Press , citing the Association of American Publishers, reported that overall e-reader sales rose 3.8% in 2014 to $3.37 billion. Seattle-based Amazon’s content distribution — it also live streams video like Netflix ( NFLX ) does, for example — sets it apart from e-commerce players such as eBay ( EBAY ) and Wal-Mart ( WMT ).

Valeant CEO Is Brave; Clovis PT Slashed; Buy Jazz ‘Aggressively’?

Drugmakers and biotechs were on the move Tuesday as Valeant Pharmaceuticals ( VRX ) CEO J. Michael Pearson finally agreed to attend a Senate deposition, and Clovis Oncology ( CLVS ) continued to tumble after an FDA panel didn’t back an accelerated approval for a lung cancer drug. Meanwhile, Jazz Pharmaceuticals ( JAZZ ) and Medivation ( MDVN ) rallied. Valeant CEO J. Michael Pearson said Wednesday he would comply with a congressional subpoena and testify before the Senate Special Committee on Aging on April 18. He didn’t show up to a hearing last week on drug pricing. Valeant shares inched up fractionally in the stock market today despite having  plunged 4% in late trading Tuesday  after the pharmaceutical giant said creditors had submitted a default notice over delays in its annual report. Valeant has until June 11 to file its 10-K annual report or face a default. But a default seems unlikely, as the company said it would file its 10-K by April 29. Clovis shares fell 9% on continued fallout from a Food and Drug Administration panel ruling Tuesday. The independent panel didn’t recommend that Clovis’ lung cancer drug, rociletinib, receive accelerated approval and said the FDA should wait for results from a late-stage trial before making a decision. Clovis lost 5.45% on Tuesday, 4.5% on Monday and 17.7% on Friday, when FDA staff released some documents ahead of the panel meeting. A similar drug from AstraZeneca ( AZN ) received accelerated approval last year. AstraZeneca shares rose 0.6%. Mizuho lowered Clovis’ price target to 15 from 21. Credit Suisse and JPMorgan both downgraded Clovis to neutral from overweight. JPMorgan cut its price target on the stock to 15 from 42 — and down from 110 last November Medivation jumped nearly 7% on takeover buzz. Late Tuesday,  Bloomberg reported that Medivation rejected a takeover attempt from France’s Sanofi ( SNY ). Sanofi is looking to expand its cancer treatment offerings but is currently embroiled in a whistleblower suit over alleged corporate kickbacks. Sanofi shares rose 0.9%. Jazz Pharmaceuticals shares jumped nearly 5% to 146.55, climbing over its 200-day moving average after Cowen released a note saying to “add aggressively” to Jazz positions after a ruling by the U.S. Patent and Trademark Office on Tuesday. The firm has a outperform rating and 190 price target on the stock.