Market News for Yahoo, KeyCorp and Pfizer (NASDAQ:YHOO),(NYSE:KEY),(NYSE:PFE)
Stock market news for Yahoo! Inc. (NASDAQ:YHOO) includes a new director, KeyCorp (NYSE:KEY) sells notes, and Garth Anderson on Pfizer Inc. (NYSE:PFE) Cancer Cures.
Patti Hart was elected to the board of directors at Yahoo! Inc. (NASDAQ:YHOO) in June to help oversee Chief Executive Officer Carol Bartz's dramatic turnaround effort at the Internet giant. But Hart was already embroiled in her own attempted revival, at International Game Technology, the Reno-based slot-machine company she's led since April of last year. IGT has suffered of late, and board members and executives including its CEO Hart -- she's served as a director since 2006 -- have been targeted in a handful of lawsuits filed by shareholders chagrined over the disappearance of over 80% of the company's market value. While Yahoo's ills stem from a combination of withering competition with Google Inc., the emergence of younger rivals and uncertainty in the online advertising market, IGT's problem is fairly simple: People haven't been gambling enough during the economic downturn. – MarketWatch
KeyCorp (NYSE:KEY) Ohio on Tuesday sold $750 million of Series I senior medium-term notes, said IFR, a Thomson Reuters service. The size of the deal was increased from an originally planned $500 million. JP Morgan, KeyBanc Capital Markets and Morgan Stanley were the joint bookrunning managers for the sale. – Reuters
Why Pfizer Can’t Cure Cancer: [Pfizer Inc. (NYSE:PFE)] Geneticist Garth Anderson of Roswell Park Cancer Institute thinks he knows why so many cancer drugs are flopping. If his theory is right, it calls into question the whole premise behind big pharma’s rush to test targeted cancer drugs in common tumors, like colon cancer, breast cancer, and lung cancer. – Forbes