Zacks Analyst Blog Highlights: Sanofi-Aventis, Johnson & Johnson, AIG, Palm, Inc., and Research In Motion

2009-03-23 11:15:05 -

Zacks.com announces the list of stocks featured in the Analyst Blog.

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Sanofi-Aventis (NYSE: SNY), Johnson & Johnson (NYSE: JNJ), AIG (NYSE: AIG), Palm, Inc. (NASDAQ: PALM), and Research In Motion (NASDAQ: RIMM).

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Here are highlights from Friday’s Analyst Blog:



FDA Recommends 2 New Drugs

On March 18th and 19th, the FDA advisory panels recommended approval of 2 important cardiovascular product candidates. The FDA does not have to follow the recommendations of the panels but usually does.

On Wednesday, the 18th of March, an FDA advisory panel recommended approval of Sanofi-Aventis' (NYSE: SNY) heart drug Multaq. Multaq (dronedarone) is a new class III anti-arrhythmic drug developed for atrial fibrillation (AF).

On Thursday the 19th, an FDA review panel voted 15 to 2 in favor of approving Johnson & Johnson's (NYSE: JNJ) anticoagulant rivaroxaban. Rivaroxaban, which will be sold under the brand name Xarelto upon approval, will be marketed in the U.S. by J&J and is already sold partner Bayer AG outside of the U.S. Multaq was initially submitted to the FDA for approval in 2006 but the FDA responded with a "not-approvable" letter.


Awaiting a "Super-Regulator"

It has been reported this morning by CNBC that the White House and Congress are working on a legislation that allows the federal government to take over and unwind the businesses of a large financial institutions like AIG (NYSE: AIG), the way it now can with commercial banks.

The regulatory authority similar to the FDIC's so-called "bridge bank" powers was originally sought to be included in a broader reform package addressing systemic risk. But it is now reported to being crafted urgently as a stand-alone legislation in the wake of the public outrage over the AIG bonuses. While reacting to the AIG's bonuses, President Obama talked about "developing tools to prevent ourselves from getting in a situation where an AIG can threaten the entire financial system."


PALM: No Profits Forecast



Palm, Inc.'s (NASDAQ: PALM) 3Q09 revenue declined by 71.0% y-o-y due to pricing concessions and lower volume for its maturing legacy smartphone, weak consumer spending and delay in shipments of the Treo Pro in the U.S.

Though Palm expects to launch its Palm Pre ‘next gen’ phone in the first half of calendar year 2009, we doubt the success of it given the current economic uncertainty that has dampened demand for consumer products.

We are again lowering our estimates for 2009 and 2010. We continue to believe that Palm badly trails Research In Motion (NASDAQ: RIMM) in the smartphone market, and will not be able to effectively compete as an independent company. We have a low confidence in its ability to survive with a weak market share, so we reiterate our Sell rating on Palm shares.

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