Biotech Agios Pharmaceuticals (AGIO) continued its selloff Monday as Canaccord Genuity lowered its price target based on skepticism about one of its cancer drugs. Agios stock dropped 10% Friday on AG-221 clinical-trial results, though investment bank Cowen & Co. said in a research report that the numbers were misinterpreted. In his report Monday, Canaccord analyst John Newman agreed with that, but focused his concern on a different project
EMC (EMC) got downgraded Monday as an investment bank panned its performance and alleged myopia around its VMware (VMW) subsidiary. Daniel Ives, an analyst for FBR Capital Markets, downgraded EMC to market perform from outperform, in a research note, and lowered his price target on EMC stock to 28 from 31. “We are downgrading shares of EMC … in light of the company’s weakening fundamentals, management’s dogmatic view around VMware, and execution
LOS ANGELES — Bethesda Softworks threw red meat to its legions of hard-core gamers with its first ever E3 showcase event on Sunday evening. The privately held game developer showed off the latest games in its popular “Doom” and “Fallout” franchises to the whoops and hollers of enthusiasts at the Dolby Theater in Hollywood. Bethesda, based in Bethesda, Md., and owned by ZeniMax Media, kicked off a week of events around the annual Electronic Entertainment Expo in Los Angeles. E3, which officially runs Tuesday through Thursday, is expected to attract about 50,000 video game industry professionals and journalists. The highlight of the Bethesda event was “Fallout 4,” set for release on Nov. 10. It’s the latest in the post-apocalyptic retro-future action franchise. It will be playable on Sony’s (SNE) PlayStation 4 and Microsoft’s (MSFT) Xbox One and Windows PCs….