I think, ... that Pfizer is going to benefit from their merger with Warner-Lambert. I think that makes a very good deal. But most pharmaceutical companies do eventually strike deals with biotech companies in terms of marketing their product. And the genomic companies don't have a lot of cash. They have a lot of high valuations, but they don't have a lot of dollars to spend. So, they usually look toward the pharmaceutical sector to help them out, which usually helps both sectors.
More Quotes from Barry Hyman:
The stocks that are up today are euro-based, ... Let's hope we can make the case that the euro problem is closer to (being) resolved than before and that's a good sign today. Whatever overhanging concerns can be relieved will help the market.Barry Hyman
You would hope that the strong earnings would support the market and give it the ability to react positively. But I think the case for that has been diminished lately.
Barry Hyman
This is a market that goes down on sentiment and goes up on excessive fear. There was excessive fear and a deflationary picture. Markets will rally on excessive fear and it seems to be an end-of-the-week technical rally.
Barry Hyman
I think there was some bargain hunting coming in on the back of good news.
Barry Hyman
The lesson here is to maintain some modicum of cautious optimism. I think the trend is so important here and it's starting to be developed, ... But in light of everything, even if the Fed does back off, the thought of a 'hard' versus 'soft landing' is still going to be out there -- which is going to prevent outrageous gains.
Barry Hyman
The productivity number is key toward determining whether the economy can show some stabilization. We've seen weakening numbers, which hasn't helped, but there is no inflation story to talk about here.
Barry Hyman
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