Traders are talking about Pfizer Inc. (NYSE:PFE) after the company received some positive news in recent days in terms of its pipeline. Not only did the top-line results from a Phase 3 trial of PF-06438179 come out positive, but The Committee for Medicinal Products for Human Use also recently recommended that the EMA approve Ibrance, Pfizer’s breast cancer drug. Ibrance brought in around half-a-billion dollars in sales for Pfizer last quarter. If it receives marketing approval in Europe, Ibrance’s sales will increase substantially. As for PF-06438179, many traders are optimistic on its prospects if approved. The drug is a potential biosimilar to Janssen’s Remicade, which did $6.56 billion in sales in 2015. The number of funds in our system with holdings in Pfizer Inc. (NYSE:PFE) fell by 25 during the second quarter to 94 at the end of June.
Centurylink Inc (NYSE:CTL) is in the spotlight after Bloomberg reported on Friday that the company will cut around 7%-to-8% of its labor force as it copes with the secular decline of its landline business. Given that CenturyLink has around 42,800 workers in total, the job cuts will likely affect as many as 3,400 current employees. Analysts expect CenturyLink’s sales to drop by 2% in 2016. 28 funds that we track had a long position in Centurylink Inc (NYSE:CTL) as of the most recent 13F reporting period, down by three funds from the previous one.
Although it’s not as bad as Apple Inc. (NASDAQ:AAPL)’s bill, McDonald’s Corporation (NYSE:MCD) could potentially face a back tax fee of $500 million in the EU according to recent analysis done by the Financial Times. If the EU imposes the bill and wins in the likely-subsequent appeal, McDonald’s Corporation’s operations in Europe might not be as profitable in the future as had been previously expected. Several funds in our database headed for the stock’s exits in the second quarter, as 63 funds were long McDonald’s Corporation (NYSE:MCD) at the end of June, down by 20 from the end of March.