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Goldman Sachs: The 50 Most Important Stocks for Hedge Funds

Market Folly submits:Given our focus on following hedge fund movements, we thought it would be prudent to post up Goldman Sachs' VIP list. The 'VIP' stands for 'Very Important Positions' for hedge funds that employ fundamental strategies rather than technical or trading. In essence, these are the 50 stocks that most frequently appear among the top ten holdings of hedge funds. In our hedge fund portfolio tracking series you may have noticed various stocks popping up over and over again in Goldman's top 10 holdings. This is simply an aggregation of a larger set of data and stems from our previous coverage of the top ten hedgie holdings.This basket of stocks returned 40% in 2009 versus 27% for the S&P 500. Goldman also notes that this list has,Complete Story »

Abbott's Estimates on the Rise

Zacks.com submits:
Earnings estimates for Abbott Laboratories (ABT) are on the rise following the release of strong fourth quarter and full year 2009 results. Abbott exited 2009 on a strong note with fourth-quarter earnings increasing 11.3% from the year-ago period to $1.18. Full-year earnings increased 12% to $3.72.Fourth-quarter revenues grew 10.6% to $8,790 million. Revenues were positively impacted by foreign exchange (FX) fluctuations (2.4%). Full-year revenues were $30.8 billion, up 4.2%.Complete Story »

Lilly, Merck, Pfizer Team Up to Accelerate Cancer Research in Asia

The Burrill Report submits: Eli Lilly (LLY), Merck (MRK), and Pfizer (PFE) are pulling together to accelerate research on Asia's most common cancers by forming the Asian Cancer Research Group, a “pre-competitive collaboration” devoted to sharing resources and expertise. The group will be not-for-profit, but profit can't be far from the trio's motives: lung and gastric cancers, the center's initial targets, are among the most common forms of cancer in Asia. Gastric cancer is the second most common cause of death on the continent, according to a study by the Institute of Digestive Disease. And a genetic mutation shown by as many as 40 percent of lung cancer patients in Asia makes the market ripe for a regionally-tailored new treatment. With most pharmaceutical companies straining to stretch their R&D dollars, the collaboration may also pay dividends as its discoveries echo through the academic research community, an ever-fertile source of new promising compounds produced by state and nationally-subsidized labs. “The goal of the ACRG is to improve the knowledge of cancers prevalent in Asia and to accelerate drug discovery efforts by freely sharing the resulting data with the scientific community,” say the companies. The new group’s plan is to create an extensive database of information about the influence of genes on drug efficacy and safety and to make that data publicly available to “inform new approaches to treatment,” the companies say. Analysis of that data could hint at new paths for cancer treatments. “Through its work and the subsequent sharing of information,” says Gary Gilliland, Merck Research Laboratories' senior vice president and franchise head for oncology, “the ACRG hopes to empower researchers, foster innovation and improve the prognosis and treatment of patients with cancer.”Complete Story »

China Biotech Week in Review: New Deals in China Life Science

ChinaBio Today submits: Three of big pharma’s biggest companies, Merck (NYSE: MRK), Lilly (NYSE: LLY) and Pfizer (NYSE: PFE), have banded together to create an Asian not-for-profit company that will construct a pharmacogenomic cancer database in Singapore (see story). The database will compile its information using 2,000 tissue samples from patients with lung and gastric cancer. The information will be made available to researchers with the goal of developing new treatments for gastric and lung cancers, which are prevalent in Asia. China's Ministry of Finance (MoF) announced Friday that the central government had authorized the spending of 37 billion RMB ($5.5 billion) as part of its larger 850 billion RMB healthcare reform, announced last year (see story). The new money will help give medical care access to lower-income citizens. Complete Story »

AstraZeneca Gets a Healthy Shot With Crestor

The Burrill Report submits: AstraZeneca (AZN) has landed an expanded label for the cholesterol-lowering medication Crestor, allowing doctors to use the statin therapy to treat a huge new group of patients. The new group, potentially numbering in the millions, includes people who are at an increased risk of heart disease, but have not been diagnosed with it. That group includes people with high levels of C-reactive protein and at least one other risk factor for stroke or heart attack, such as smoking, high blood pressure, a family history of premature heart disease.It's also the first time Crestor has been approved for use to help prevent heart disease in people with “normal” low-density lipoprotein cholesterol levels who show no clinical evidence of heart disease, says the US Food and Drug Administration.Complete Story »

T2 Partners Hedge Fund's Largest Long and Short Positions

Market Folly submits:Whitney Tilson and Glenn Tongue's hedge fund T2 Partners has put out its annual letter. In this latest letter to investors, Tilson and Tongue address the macro environment, talk about how their portfolio fared and discuss their largest long and short positions.Since hedge funds often do not reveal their short positions, we wanted to make special note of this glimpse we get into T2's short book. We had previously seen some of its shorts, but the list below is more expansive. Tilson and many other prominent hedge fund managers will be presenting investment ideas at the Value Investing Congress May 4th & 5th in Pasadena, and we highly recommend attending. We've secured a discount to the event for our readers, so make sure to use discount code P10MF5.Complete Story »

Poniard Pharmaceuticals: A Rebound Is Overdue

M.E. Garza submits:
Colorectal cancer is the third most common form of cancer worldwide. Despite significant progress in its treatment over the past decade, colorectal cancer remains the second-leading cause of malignancy-related death in the United States.Currently, Oxaliplatin is typically administered with fluorouracil and leucovorin in a combination known as FOLFOX for the treatment of colorectal cancer. Oxaliplatin is marketed by Sanofi-Aventis (SNY) under the trademark Eloxatin, or by Medac GmbH under the trademark Oxaliplatin Medac. There are generic equivalents on the market now, but several big pharmaceutical companies, including Pfizer (PFE), are looking for a treatment that can replace FOLFOX (5fu/leucovorin + Oxaliplatin) in 1st line Colorectal Cancer.Complete Story »

Friday Options Recap

Frederic Ruffy submits: SentimentWeakness in the financials combined with the options expiration triggered an uptick in market volatility Friday. Today is the January options expiration, which often sets record volume due the fact that many former Long-term Equity Anticipation Securities [LEAP] expire in the January. With about an hour left to trade, 8.3 million calls and 6.7 million puts traded so far.Meanwhile, Bank of America (BAC) is down 3.3 percent and the biggest loser in the Dow Jones Industrial Average amid relative weakness in the financials. The sector came under pressure early after JP Morgan (JPM) reported better-than-expected fourth quarter earnings, but revenues fell short of analyst estimates.Complete Story »

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