Solanezumab Alzheimer's Signs of Decline|
Solanezumab, a highly anticipated potential treatment for Alzheimer's disease
from drug maker Eli Lilly & Co. (LLY) failed to reach its set goals in two Phase
3 studies, although - pooled data from both studies showed signs of the drug
slowing cognitive decline overall in patients with mild-to-moderate cases.
Alzheimer's is a form of dementia that progressively robs patients of their
memories as well as, affects their thinking and behavior. "We recognize that the
solanezumab studies did not meet their primary endpoints, but we are encouraged
by the pooled data that appear to show a slowing of cognitive decline," said
Chief Executive John Lechleiter. Side effects consisting of lethargy, rash and
malaise in one trial and angina in the other trial occurred more frequently in
the solanezumab group than in the placebo group. The Alzheimer's Diseases
Cooperative Study, is providing an independent analysis of the data from the
studies and Lilly said the next steps for solanezumab have yet to be decided and
will be determined after discussions with regulators.
Big-ticket U.S. goods orders jumped 4.2% in July as demand for airlines and
autos surged per the Commerce Department on Friday. Bookings for transportation
equipment which is a particularly volatile category, soared higher by 14.1% in
July as Boeing received its biggest batch of orders since December 2011.
Stripping out the transportation sector, goods orders fell 0.4% and declined for
the second month in a row. Orders for core capital goods excluding defense and
transportation - a key barometer of U.S. business spending fell 3.4% in July,
compared to a drop by 2.7% in June.
German Chancellor Angela Merkel said she wants Greece to remain in the euro
zone, but added that she wants to see a report from the country's troika of
international lenders in September before European leaders decide whether to
give Greece more time to implement austerity measures and reforms in return for
its bailout. In a joint news conference on Friday with Greek Prime Minister
Antonis Samaras after a meeting in Berlin, Merkel said she was convinced
Samaras's new government is committed to solving Greece's woes. Samaras repeated
that Greece is not seeking more money but needs 'breathing space' to implement
measures while aiming to restore growth to the recession-wracked country.
Autodesk (ADSK) - design software maker shares were lower by 16% into mid-day
trading Friday after reporting Q2 profit fell 9.3%. Late Thursday Autodesk
announced plans to reduce staff in a restructuring effort to address a shift to
cloud and mobile computing. Revenue reported missed Autodesk’s expectations and
the company lowered its top-line forecast for the full fiscal year.
Salesforce.com (CRM) posted a Q2 loss as operating costs and stock-based
expenses jumped. Shares were higher by 1% into mid-day trading on Friday. The
company’s top-line growth and quarterly billings exceeded expectations.
Salesforce lowered its outlook for per-share earnings in the current quarter and
projected a modest decline in the growth rate of deferred revenue which is a
critical measure of future revenue for its subscription-based business model.
QEP Resources (QEP) shares were higher by 5% into mid-day trading Friday, to
lead components in the S&P 500 index. QEP plans to buy acreage in the Bakken
shale for $1.4 billion. QEP lifted its 2012 target for earnings before interest,
taxes, depreciation and amortization on an adjusted basis to a range of $1.4
billion to $1.45 billion, up from prior estimate of $1.35 billion to $1.4
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Aug 24, 2012