In early February, PFE had great news on their SU11248 molecule
Yes, the news on Feb.11 about the EMA granting PFE ODS for SU11248 for gastric Ca resistant to gleevec, was a good one, and although the stock that day had what seemed an "unimpressive day" since it closed at 25.16 (below the O at 25.30) and on moderate volume of 24,738,000 however, that was the day the stock started on its present near term uptrend.<g>
The nearest support remains now at 25.88 to 25.90 and resistance at yesterday's H of 27.75 and then the Dec.16 H at 29.10
bigcharts.marketwatch.com
The stock has already closed its Dec.17 down-gap which was made on an impressive volume of 289,713,792 However, in spite of the significant down-gap, the stock was able to close that day at 25.75 above its O of 25.10 <g>
PFE has announced that it is going to trim some of its general sales and marketing expenses, which have been running at more than 2x its R&D expenses.That means, among other things,that it is going to cut down some on "sales representatives" (in some cases there were as many as 3 visiting the same doctor)and cut some of the invitations and other perks to doctors (I miss some of those since I retired more than 5 yrs. ago.<g>)
PFE also seems to have a much lesser exposure to the potential losses from class action litigation (Some people have estimated MRK's potential loss on that regard to as much as $50Bs.<g>)And I don't know how much help having a "warning" on the label is going to be, since the tobacco companies had that in the packs and advertisements for some time and apparently it wasn't that much of a big hurdle for the trial lawyers to jump over.<g>
On its monthly chart, PFE is still on the down-trend coming from its Feb.2004 H at 38.89 and I hope it will not have to retest its Dec,17 L of 21.99
bigcharts.marketwatch.com
RAGL
Bernard |
