Verizon Prices RISE as Subscriber Rate Slows and 2 Dow Movers Turning Heads
Pfizer Inc. (NYSE:PFE) reports that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion, and recommends that crizotinib be granted conditional marketing authorization in the European Union, for the treatment of adults suffering from previously treated anaplastic lymphoma kinase-positive advanced non-small cell lung cancer. The CHMP’s positive opinion will be evaluated by the European Commission, which possesses the authority to approve medicines for the European Union, and Pfizer expects a decision from the Commission in the coming months. Upon crizotinib being granted conditional marketing authorization, the firm will be required to submit data to the EMA from the recently completed PROFILE 1007 study, which has met its primary endpoint in previously treated ALK-positive advanced NSCLC patients. Subsequent to a review of the 1007 results by CHMP, the European Commission would then consider the conversion of the conditional marketing authorization to a normal marketing authorization.
AT&T, Inc.’s (NYSE:T) and Verizon’s (NYSE:VZ) shares have traded almost in lockstep in the past year, however, AT&T might have the advantage going forward, as its dividend is likely to continue growing, says Barron’s. Additionally, earlier in 2012, the form said that it would spend $9 billion to repurchase almost 5 percent of shares outstanding, Verizon has not been actively buying back stock. On Thursday, Verizon Wireless reported that it added 1.2 million subscribers in second quarter for a total of 94.2 million, but last quarter AT&T saw its wireless base increase to 103.9 million. Barron’s believes that while the stock is unlikely to soar, investors seeking a defensive dividend move might take note of AT&T. In the meantime, Verizon Wireless, which is the nation’s largest cellphone carrier, is gaining fewer new contract subscribers. However, its profit remains strong because of increasing revenue from mobile data, which it collects for Internet use, and impressive smartphone sales.
Wal-Mart Stores Inc. (NYSE:WMT) is a top advocate of a bill in Congress would allow states to collect sales tax from out-of-state merchants that sell to their residents. If it does become law, online retailers such as Amazon.com, Inc. (NASDAQ:AMZN), which now mostly do not collect sales tax, will lose a price advantage which has allowed them to take market share from Wal-Mart, according to Bloomberg.
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