Aetna Slapped With Suit and 4 Hot Stocks See Action Today
Aetna Inc. (NYSE:AET): HealthTrio filed a patent infringement lawsuit against Aetna and two Aetna subsidiaries. The inventions that are currently protected by the patents are methods and systems to connect all health care participants to move toward the improvement of the quality of care, the decrease costs, and the streamlining of administrative processes.
Teva Pharmaceutical Industries Limited (NASDAQ:TEVA) has begun to retreat after Leerink Swann analyst Jason Gerberry downgraded the stock to Market Perform, down from Outperform. Earlier in the day, Gerberry wrote in a not to investors that the company’s revenue from older products is currently in the position to decline, and he continues to be skeptical in regards to the ability to replace lost revenue. Teva’s most recent products possess nothing ore than “modest” sales potential, and is unlikely to begin to generate significant sales until 2015 or later, according to the analyst. Gerberry lowered his target valuation range on the stock to $44 to $45 from $47 to $48 as he recommended waiting for a more favorable entry point before buying the shares.
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AT&T, Inc. (NYSE:T): Today, AT&T stated that it has started to offer its own wireless service in seven Eastern Oregon counties. Before, only roaming service was offered by the company in those areas through the use of other companies’ networks. Now, Baker City, Burns, Christmas Valley, Elgin, Enterprise, Halfway, John Day, Mount Vernon, Ontario, Paisley, Pilot Rock, Prairie City, Riley, Silver Lake, Sumpter, and Wallowa all have AT&T service.
Eli Lilly & Co. (NYSE:LLY) gave an update in regards to the next steps that were planned for solanezumab, which is its Phase 3 monoclonal antibody that currently is being studied as a possible therapy for patients diagnosed with mild Alzheimer’s disease. After talking with regulators in the U.S., Europe, and Canada, Lilly has intentions to conduct another Phase 3 study of solanezumab in patients diagnosed with mild Alzheimer’s disease. Furthermore, study design and length are still in the process of being determined. Lilly expects to begin the study no later than 3Q of 2013. Recent meetings with the FDA indicate that Lilly has not plans to submit a Biologics License Application currently in the U.S. due to the existing analyses of data from the Expedition studies. Lilly will keep analyzing and considering the data from the two, Phase 3, double-blind, placebo-controlled solanezumab Expedition studies with regulators globally to determine the regulatory paths forward in different regions. Different courses of action could potentially be taken in different jurisdictions.
Nokia Corporation (NYSE:NOK) is moving more slowly with the new line up of Windows Phone-based Lumia smartphones than it had hoped, and now, Pacific Crest analyst James Faucette has stated via a research note this morning that checks in Western Europe and North America find “low shipments volumes and sales.” Additionally, he argues that the recent rally in Nokia shares mostly results from an overly optimistic read on early sales, and he advises avoiding the stock.
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