Plus   Neg

Teva Pharmaceutical Remains Firmly Negative After Early Sell-Off

After falling sharply early in the session, shares of Teva Pharmaceutical Industries Ltd. (TEVA) continue to see significant weakness in afternoon trading on Wednesday. Teva is currently down by 4.9 percent after moving higher for three straight sessions.

The pullback by Teva comes after a report from Reuters said pharmacy benefits manager Express Scripts Holding Co. (ESRX) will cover new migraine drugs from Eli Lilly & Co. (LLY) and Amgen Inc. (AMGN) but is excluding a rival medication made by Teva.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Deutsche Telekom AG were losing around 2 percent in German trading after the telecom giant reported Thursday a net loss in its fourth quarter, compared to prior year's profit, despite increased revenues. Looking ahead, the company said its 2019 forecast shows undiminished growth momentum. Hormel Foods Corp. on Thursday reported a 20 percent decline in profit for the first quarter from last year, when results were aided by a benefit related to the U.S. tax reform. However, earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Looking ahead, the branded food company reiterated its financial outlook for fiscal 2019. Southwest Airlines Co. said it will investigate whether a dispute with its mechanics union was the cause of an "unprecedented number" of out-of-service aircraft that resulted in flight cancellations and flight delays. Southwest Airlines COO Mike Van de Ven said in a statement that the airline has been negotiating with Aircraft Mechanics Fraternal Association or AMFA for more than six years.
Follow RTT