The Zacks Analyst Blog Highlights: Priceline.com, Equinix, Pfizer, Novartis and Bristol-Myers Squibb
CHICAGO, April 5, 2013 /PRNewswire/ -- 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 Priceline.com (Nasdaq:PCLN), Equinix Inc. (Nasdaq:EQIX), Pfizer Inc. (NYSE:PFE), Novartis (NYSE:NVS) and Bristol-Myers Squibb's (NYSE:BMY).
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Here are highlights from Thursday's Analyst Blog:
Equinix Solution Helps Priceline
Like several other companies, Priceline.com (Nasdaq:PCLN) is also taking support from Equinix Inc. (Nasdaq:EQIX), which is using the Equinix Platform to improve the efficiency of its operation and meet the growing demands of the online travel industry.
Priceline has started using Equinix's DC6 International Business Exchange data center, which is located in Ashburn, Virginia. This has been beneficial to Priceline, as it has reduced its server count by 40.0%, thereby reducing power consumption by 50%. Equinix's solution is aiding Priceline to improve response time.
According to a joint study by Gartner and Frost & Sullivan, the Asia-Pacific will see maximum growth in the data center business. Gartner also expects China to become the second largest global data center market by 2015.
Through constant deal wins, the company has been able to add to its critical mass of customers and has expanded its network within IBX centers. Direct interconnection with its aggregation of networks, which serves more than 90% of the world's Internet routes, enables customers to increase the efficiency of their IT infrastructure, remove complexities of administering and managing their infrastructure, while significantly reducing costs.
Although geographical expansion and deal wins are helping Equinix expand its business, its longer sales cycle means that revenues are not recognized immediately, so there may not be any rapid improvement in its results.
The current macroeconomic condition is further extending the sales cycle, as customers are unable to accurately forecast their future business plans and are therefore delaying their purchase decisions.
Conditional EU Approval for Pfizer's Bosulif
Pfizer Inc. (NYSE:PFE) recently announced it has gained conditional marketing authorization from the European Commission (EC) for its oncology product, Bosulif (bosutinib). Bosulif gained conditional EU approval for the treatment of adults suffering from chronic, accelerated, and blast phase Philadelphia chromosome positive chronic myelogenous leukemia (Ph+ CML) that has been previously treated with one or more tyrosine kinase inhibitors (TKIs) and for whom treatments like Novartis' (NYSE:NVS) Gleevec (imatinib) and Tasigna (nilotinib) and Bristol-Myers Squibb's (NYSE:BMY) Sprycel (dasatinib) are not considered suitable.
The conditional approval was expected as, earlier this year, the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) had issued a positive opinion regarding the conditional approval of Bosulif.
Conditional approval means that Pfizer will have to provide the EMA with additional efficacy and safety data on Bosulif. The approval is renewable on a yearly basis and could be converted into full marketing approval depending on the review of the additional data by the CHMP.
We note that Bosulif is already approved in the US. Pfizer gained US Food and Drug Administration (FDA) approval in Sep 2012 for Bosulif for the treatment of chronic, accelerated, or blast phase Ph+ CML in adult patients who are resistant or intolerant to prior therapy. Bosulif enjoys orphan drug status in the US.
Pfizer currently carries a Zacks Rank #3 (Hold). While near-term earnings will be driven by cost cutting efforts and share repurchases, longer-term growth will depend on the success of drug development. Pfizer's pipeline needs to deliver given the Lipitor loss of exclusivity and the upcoming loss of exclusivity on additional products in the next few years.
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