For Immediate Release
Chicago, IL – November 22, 2011 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Alleghany ( (Y - Free Report) , TransAtlantic ( , Tyson Foods ( (TSN - Free Report) , Tech Data ( (TECD - Free Report) and Amgen ( (AMGN - Free Report) .
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: https://at.zacks.com/?id=5513
Here are highlights from Monday’s Analyst Blog:
“Super Committee” Anything But
U.S. stock futures are down following reports the the U.S. congressional "super-committee" have again failed to reach an agreement to cut $1.2 trillion in spending. The official deadline for an agreement to be reached is this Wednesday, but nobody seems to be holding out much hope. Perhaps what everyone could agree upon is to take the term "super" out of the name "super-committee."
At 10:00am ET, new data on existing home sales will be released. October numbers are expected to slip to 4.85 million from 4.91 million in September. This, plus the months of supply numbers (8.5 months in September -- notably higher than the normal level of 6 months), are expected to keep downward pressure on home prices.
In mergers and acquisitions news this morning, property and casualty insurer Alleghany ( (Y - Free Report) has agreed to purchase TransAtlantic ( for $3.4 billion.
Tyson Foods ( (TSN - Free Report) reported a weaker-than-expected 26 cents per share, down 54% year over year. The Chicken business -- Tyson's "bread and butter," if you'll pardon the expression -- reported a Q4 loss, and the company is cutting chicken production going forward. IT distributor Tech Data ( (TECD - Free Report) missed earnings expectations slightly this morning on 7% year-over-year growth.
EU Label Expansion for Amgen Drug
Amgen ( (AMGN - Free Report) recently announced that it received approval from the European Commission (EC) for a label expansion of its colorectal cancer product, Vectibix. Amgen gained EU approval for the use of Vectibix as a first-line treatment in combination with FOLFOX and second-line treatment in combination with FOLFIRI in patients with wild-type KRAS metastatic colorectal cancer (mCRC) who have received first-line fluoropyrimidine-based chemotherapy (excluding irinotecan).
Amgen is looking to drive Vectibix sales by expanding the label into second - and first-line treatment of metastatic colorectal cancer, which will expand the patient base significantly. Results from two studies (PRIME and ‘181) showed that Vectibix plus chemotherapy (FOLFOX or FOLFIRI) improved progression-free survival in patients with wild-type KRAS mCRC compared to only chemotherapy. Moreover, Amgen reported a higher response rate in the Vectibix plus chemotherapy arm compared to chemotherapy alone.
Vectibix is currently approved in several countries as a monotherapy treatment for wild-type KRAS mCRC patients who are no longer responding to standard chemotherapy. Meanwhile, Vectibix is approved in the US as a monotherapy treatment for patients with EGFR-expressing mCRC after the disease has progressed following or while on treatment with fluoropyrimidine-, oxaliplatin-, and irinotecan-containing chemotherapy regimens.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: https://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: https://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at https://at.zacks.com/?id=5518.
Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339