Puma Biotechnology (PBYI) stock tumbled Thursday after the company released disappointing data late Wednesday, ahead of the annual American Society for Clinical Oncology meeting. The ASCO abstract release also featured positive but somewhat conflicting news on new immuno-oncology drugs from Roche (RHHBY), AstraZeneca (AZN) and Merck (MRK). Puma issued results of its late-stage trial of breast-cancer drug neratinib, whose earlier results were so
Cisco Systems’ (CSCO) Q3 earnings and revenue, released after the market close Wednesday, beat analyst views despite declining growth in service provider video and emerging markets, as the company continues to work through a business transition and readies for a chief executive succession. The No. 1 computer networking equipment maker is attempting to boost revenue in new growth areas including data center, wireless and security to offset slowing
Netflix’s (NFLX) global scale and content ambitions are becoming “more frightening” to traditional programmers, says Pacific Crest Securities, in a review of Q1 earnings reported by media and entertainment companies. Netflix’s spending on programming has overtaken Viacom (VIA), and is second only to Time Warner (TWX), says Andy Hargreaves, an analyst at Pacific Crest, in a research report. He says Netflix’s international subscriber growth will