Diamonds and Dogs
Jazz Pharmaceuticals (JAZZ) is all jazzed up. The biotech drug maker jumped 11% even as a generic version to their drug to treat daytime sleepiness and cataplexy in narcolepsy patient receives FDA approval. On the plus side for Jazz, the FDA also approved a petition from Jazz that would prevent the generic from using a "skinny label." A skinny label would allow the company to carve out information related to drug-drug interactions between sodium oxybate (Xyrem) and divalproex sodium, a drug to treat seizures.
Target (TGT) misses the mark once again. Target dropped 5.7% after their November-December same-store sales fell 1.3%. One bright spot, online sales grew 30%. But total sales declined 4.9%, reflecting the sale of their pharmacy and clinic business in 2015. Looks like Amazon ate another retailer.