Azilect for Parkinsons Disease
Wednesday, at the 65th American Academy of Neurology Annual Meeting in San
Diego, Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) and H. Lundbeck A/S
(HLUYY, LUN.KO) will present data from Azilect treatment. Azilect or rasagiline
is indicated for the treatment of the signs and symptoms of Parkinson's disease
both as initial standalone therapy and in combination with levodopa later in the
disease. In an 18-week study, Azilect treatment for Parkinson's disease in
combination with dopamine agonist therapy met its primary endpoint. Dr. Michael
Hayden, president of global research and development and chief scientific
officer at Teva said that the study data "continue to clarify the clinical
profile of Azilect and the role it plays in helping to meet the needs of those
living with [Parkinson's disease], at multiple points in the progression of
FedEx (FDX) on Wednesday reported a 31% drop in its fiscal profit for Q3 ending
February 28 as the parcel delivery firm slashed its outlook for the year, citing
a customer shift to cheaper overseas deliveries. Revenue rose 4% to $11 billion
while net income dropped to $361 million or $1.13 a share, from $521 million, or
$1.65 a share. Excluding the cost of a voluntary buyout program for U.S.
officers and managing directors as well as other charges, FedEx earned $1.23 a
share. The company cut its fiscal Q4 adjusted earnings outlook, to a range of
$1.90 to $2.10 a share. Alan B. Graf Jr., FedEx Corp. executive vice president
and chief financial officer, said in a statement, “Our lower-than-expected
results for the quarter and reduced full-year earnings outlook were driven by
third quarter international revenues declining approximately $100 million versus
our guidance primarily due to accelerating customer preference for
lower-yielding international services, lower rate per pound and weight per
shipment. We expect these international revenue trends to continue. We have
other actions under way beyond those already included in our profit improvement
program. Some of these additional actions may involve temporarily or permanently
grounding aircraft, which could result in asset impairment or other charges in
For losses related to alleged manipulation of the London interbank offered rate
known as Libor, U.S. mortgage firm Freddie Mac (FMCC) has sued 15 banks
including the following banks: Bank of America Corp. (BAC), Citigroup Inc. (C),
Credit Suisse Group AG, (CS), JPMorgan Chase & Co. (JPM) and UBS AG (UBS).
Richard Leveridge, a lawyer for Freddie Mac, said the "defendants' fraudulent
and collusive conduct caused [U.S. dollar Libor] to be published at rates that
were false, dishonest and artificially low." Libor rate-rigging scandal broke
out in the summer of 2012 and has so far resulted in the resignation of former
chief executive Bob Diamond of Barclays PLC's (BCS) as a result of several
probes of major global banks and large penalties.
U.K. Chancellor of the Exchequer George Osborne delivered his 2013 budget on
Wednesday, highlighting that the country's deficit has been cut by a third, but
that the economic growth is slower than expected. Chancellor gave way for
expectations that the Bank of England could be handed more power to further ease
The following is the text of the Federal Open Market Committee’s statement
Information received since the Federal Open Market Committee met in January
suggests a return to moderate economic growth following a pause late last year.
Labor market conditions have shown signs of improvement in recent months but the
unemployment rate remains elevated. Household spending and business fixed
investment advanced, and the housing sector has strengthened further, but fiscal
policy has become somewhat more restrictive. Inflation has been running somewhat
below the Committee’s longer-run objective, apart from temporary variations that
largely reflect fluctuations in energy prices. Longer-term inflation
expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum
employment and price stability. The Committee expects that, with appropriate
policy accommodation, economic growth will proceed at a moderate pace and the
unemployment rate will gradually decline toward levels the Committee judges
consistent with its dual mandate. The Committee continues to see downside risks
to the economic outlook. The Committee also anticipates that inflation over the
medium term likely will run at or below its 2 percent objective.
To support a stronger economic recovery and to help ensure that inflation, over
time, is at the rate most consistent with its dual mandate, the Committee
decided to continue purchasing additional agency mortgage-backed securities at a
pace of $40 billion per month and longer-term Treasury securities at a pace of
$45 billion per month. The Committee is maintaining its existing policy of
reinvesting principal payments from its holdings of agency debt and agency
mortgage-backed securities in agency mortgage-backed securities and of rolling
over maturing Treasury securities at auction. Taken together, these actions
should maintain downward pressure on longer-term interest rates, support
mortgage markets, and help to make broader financial conditions more
The Committee will closely monitor incoming information on economic and
financial developments in coming months. The Committee will continue its
purchases of Treasury and agency mortgage-backed securities, and employ its
other policy tools as appropriate, until the outlook for the labor market has
improved substantially in a context of price stability. In determining the size,
pace, and composition of its asset purchases, the Committee will continue to
take appropriate account of the likely efficacy and costs of such purchases as
well as the extent of progress toward its economic objectives.
To support continued progress toward maximum employment and price stability, the
Committee expects that a highly accommodative stance of monetary policy will
remain appropriate for a considerable time after the asset purchase program ends
and the economic recovery strengthens. In particular, the Committee decided to
keep the target range for the federal funds rate at 0 to 1/4 percent and
currently anticipates that this exceptionally low range for the federal funds
rate will be appropriate at least as long as the unemployment rate remains above
6-1/2 percent, inflation between one and two years ahead is projected to be no
more than a half percentage point above the Committee’s 2 percent longer-run
goal, and longer-term inflation expectations continue to be well anchored. In
determining how long to maintain a highly accommodative stance of monetary
policy, the Committee will also consider other information, including additional
measures of labor market conditions, indicators of inflation pressures and
inflation expectations, and readings on financial developments. When the
Committee decides to begin to remove policy accommodation, it will take a
balanced approach consistent with its longer-run goals of maximum employment and
inflation of 2 percent.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman;
William C. Dudley, Vice Chairman; James Bullard; Elizabeth A. Duke; Charles L.
Evans; Jerome H. Powell; Sarah Bloom Raskin; Eric S. Rosengren; Jeremy C. Stein;
Daniel K. Tarullo; and Janet L. Yellen. Voting against the action was Esther L.
George, who was concerned that the continued high level of monetary
accommodation increased the risks of future economic and financial imbalances
and, over time, could cause an increase in long-term inflation expectations.
Milestone for Millennium-Traders, we are extremely proud to be one of the top 1%
most viewed LinkedIn profiles for 2012.
Offers on Subscriptions, monthly rates at low as $75 per month plus, weekly
subscriptions now available.
on Day Trading with confirmed subscription to our Free
One week trial
Day Trading Rooms
for stocks, futures, forex and options.
available for stocks, futures, forex and options traders.
focus on NYSE, NASDAQ and AMEX.
focus on YM, NQ, TF and ES.
based on New York trading session focus on GBPUSD, USDCAD, USDJPY, EURUSD,
GBPJPY, USDCHF, EURJPY, EURAUD, AUDJPY, CHFJPY, EURCAD, GBPCAD and AUDUSD.
available to subscribers weekdays starting at 9am ET.
Detailed historic performance for all calls is available on our
Opt-in to our
sent via email, first trading day of the week which includes recap of markets
from previous week and what is ahead for the upcoming trading week.
provides new trading subject every month.
Free Chat Rooms
- penny stocks, options, stocks, futures and forex! Chat with other traders any
time, day or night, 24-hours a day.
Mar 20, 2013