Gilead Sciences RECEIVES FDA Approval and 4 Hot Stocks Driving the Market Today

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Yahoo! Inc. (NASDAQ:YHOO) has selected Marissa Myer as the new CEO for the company because she is “product-focused” and “focused on the user-experience,” and the company believes that she will have the ability to re-stock the company with talent, Business Insider reports citing sources close to Yahoo!’s board. Shares of Yahoo! Inc. are trading 0.29% lower today.

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Gilead Sciences, Inc. (NASDAQ:GILD): On Monday, the Food and Drug Administration approved the first drug showing a reduced risk of HIV infection, this is the latest news in the 30 year battle against the deadly virus. The agency approved the drug, Gilead Sciences’ pill Truvada, as a measure to prevent healthy individuals with a high risk of getting HIV via sexual activity, such as those with HIV-positive partners. This is only two weeks after the approval of the first over-the-c0unter HIV test which Americans are able to use in their own homes. Shares of Gilead Sciences, Inc. are trading 1.60% higher today.

Anthera Pharmaceuticals Inc (NASDAQ:ANTH): According to Summer Street, predefined subset analysis of Anthera’s PEARL-SC has met its main endpoint. Shares have a Buy rating and a $5 price target. Shares of Anthera Pharmaceuticals Inc are trading 30.08% higher today.

Goldman Sachs Group, Inc. (NYSE:GS) has begun building an in-house bank intended to lend money to wealthy people and companies, in a large shift underlining the tough business climate Wall Street faces since the financial crisis has begun, the Wall Street Journal reports. Shares of Goldman Sachs Group, Inc. are trading 0.48% higher today.

State Street Corporation (NYSE:STT) agreed to acquire Goldman Sachs Administration Services from The Goldman Sachs Group (NYSE:GS) in a transaction totalling $550 million cash, subject to specific adjustments. Due to pending regulatory approvals as well as customary closing conditions, this transaction should be completed by early 4Q12. State Street predicts that the transaction will be accretive on a cash basis during the first complete year of operation. Shares of State Street Corporation are trading 5.37% lower today.

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