Market Currents

• Monday, December 21, 2009

• 18:03 PM Morningstar looks back over some of their most frequently discussed stock picks to plumb them for price-to-value ideas for 2010: heavy on healthcare, including Genzyme (GENZ), Stryker (SYK) and Abbott Labs (ABT). 1 Comment

• Wednesday, December 2, 2009

• 10:38 AM Pfizer's (PFE) $60M deal to license Protalix's (PLX) Gaucher disease treatment puts it in direct competition with Genzyme (GENZ), and signals its entry into the business of selling ultra-expensive drugs for ultra-rare diseases. While there may be just a few patients with each disease, Pfizer's David Simmons says, "collectively, it's a very large patient population with a great unmet medical need." Comment!

• Friday, November 13, 2009

• 12:23 PM Genzyme (GENZ) shares dive as regulators say some lots of five different products may be contaminated with steel fragments, rubber, and fiber-like material from the manufacturing process. [[GENZ]] currently on the way back up, -4.2%. Comment!

• Wednesday, October 21, 2009

• 09:26 AM Genzyme (GENZ): Q3 EPS of $0.31 misses by $0.13. Revenue of $1.06B (-8.8%) vs. $1.11B. Sees full-year EPS of $2.26 vs. consensus of $2.46. Shares -3.2% premarket. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AAI, AMR, APD, ATI, BA, CAL, ELN, FLIR, FCX, GENZ, HCBK, KEY, LLY, MAN, MO, MS, NITE, NOC, NTRS, OMC, PENN, STJ, USB, USG, WFC Comment!

• Monday, August 17, 2009

• 09:56 AM FDA gives Protalix BioTherapeutics' (PLX +7.5%) Gaucher disease drug temporary approval, citing an acute shortage of Genzyme's (GENZ -1.2%) Cerezyme after the contamination of one of its plants this summer. Shire (SHPGY.PK -1.8%) also gets temporary approval for its Gaucher treatment. Comment!

• Wednesday, July 22, 2009

• 09:17 AM Genzyme (GENZ): Q2 EPS of $0.85 in-line. Revenue of $1.2B (+5%) vs. $1.3B. Shares -4.8% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AAI, APD, ATI, BA, BK, DAL, ENTG, GENZ, GNTX, HST, ITW, KEY, LLY, MO, MS, NITE, NTRS, PDS, PEP, PFE, SEIC, STI, STJ, SU, TCB, USB, USG, WFC, WHR Comment!

• Tuesday, June 16, 2009

• 10:02 AM Meanwhile Baird says BioMarin Pharmaceutical (BMRN -0.7%) weakness tied to the Genzyme (GENZ -6.3%) production halt is a buying opportunity. Firm notes GENZ's Allston plant is now only a secondary source for BMRN's Aldurazyme, adding that BMRN has a year's worth of inventory on hand. Comment!
• 09:55 AM At least one firm, Oppenheimer, thinks today's drop in Genzyme (GENZ -5.6%) is overdone. GENZ halted production after detecting a virus in one of its bioreactors. 1 Comment
• 09:00 AM Premarket gainers: EMKR +28%. ALVR +13%. HOV +11%. BZH +9%. LEA +9%. ACAS +8%. SAY +8%. SATC +8%. ESLR +6%. FRPT +6% BCS +5%. LYG +5%. HL +5%. RCL +4%. SQNM +4%. SOL +4%. EGLE +4%. S +4%.
  Losers: CPST -10%. APWR -9%. GENZ -6%. PCX -5%. CHU -4%. CTIC -4%. ACGY -4%. JAZZ -4%. Comment!
• 08:47 AM Genzyme (GENZ) -6.3% premarket. It was forced to shutter production at its Allston Landing facility after detecting a virus that impairs cell growth in one of its bioreactors. GENZ says it now realizes the virus was also the cause of two previous slowdowns in cell productivity. Comment!

• Wednesday, April 22, 2009

• 09:18 AM Genzyme (GENZ): Q1 EPS of $1.04 misses by $0.01. Revenue of $1.15B (+4.4%) vs. $1.21B. Sees full-year EPS of $4.58 vs. $4.62. Shares -2.7% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AAI, APD, ATI, BA, CAL, CFR, DOV, ECA, ELN, FCX, GENZ, GNTX, IR, KMB, MCD, MO, MS, NITE, NOC, PBG, PDS, R, SNV, STJ, SY, T, TIN, WFC, WLP Comment!

• Tuesday, March 3, 2009

• 08:37 AM Genzyme (GENZ) -5.5% premarket after FDA surprisingly nixes its plans to expand production of its Pompe disease treatment Myozyme. Comment!

• Wednesday, February 11, 2009

• 08:58 AM Genzyme (GENZ): FQ3 EPS of $1.04 beats by $0.02. Revenue of $1.17B (+13.2%) vs. $1.18B. Shares +2.1% premarket. (PR) Comment!