More and more boomers are being too generous to family members, doling out wads of money and jeopardizing their own retirement security, according to a newly released study by Merrill Lynch Wealth Management and Age Wave.
The study, “Family & Retirement: The Elephant in the Room” conducted in August by Merrill in partnership with Ken Dychtwald’s Age Wave, found that during the last five years, three out of five (62%) Americans age 50 and older have provided financial assistance to members of their family, including adult children, parents, grandchildren, siblings or other relatives.
On average, the study found that the financial assistance provided to family members during the last five years was nearly $15,000—and significantly more among the nation’s wealthiest families.
While the support may have gone to help relatives meet a one-time need or provide ongoing assistance over the course of many years, it was often given without expecting anything in return, the study notes. However, the study warns that the vast majority of people age 50+ (88%) have not factored such support for family into their financial planning.
5 Best Sliver Stocks To Own Right Now: Delcath Systems Inc.(DCTH)
Delcath Systems, Inc., a development stage company, operates as a specialty pharmaceutical and medical device company. It focuses on cancers in the liver. The company involves in the development and clinical study of the Delcath chemosaturation system. Its clinical trial include a Phase III multi-center study for patients with unresectable metastatic ocular or cutaneous melanoma exclusively or predominantly in the liver; and a multi-arm Phase II clinical trial of the Delcath chemosaturation system with melphalan in patients with primary and metastatic liver cancer, which comprise neuroendocrine tumors, hepatocellular carcinoma, ocular or cutaneous melanoma, and metastatic adenocarcinoma. Delcath Systems, Inc. was founded in 1988 and is based in New York, New York.
- [By John Udovich]
Biotech in general has been one of the markets hottest sectors this year thanks to plenty of mostly good newsalong withnew IPOs while small cap biotech stocks Delcath Systems (NASDAQ: DCTH), ZIOPHARM Oncology Inc (NASDAQ: ZIOP), Recro Pharma (NASDAQ: REPH), TetraLogic Pharmaceuticals (NASDAQ: TLOG)and TNI BioTech (OTCMKTS: TNIB) have also produced their share of newsthis week or in recent weeks. Just consider the following:
- [By Monica Gerson]
Delcath Systems (NASDAQ: DCTH) is expected to post a Q4 loss at $0.05 per share on revenue of $100.00 thousand.
Emerald Oil (NYSE: EOX) is projected to post a Q4 loss at $0.02 per share on revenue of $18.04 million.
5 Best Sliver Stocks To Own Right Now: Alexion Pharmaceuticals Inc.(ALXN)
Alexion Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of biologic therapeutic products for treating patients with severe and life-threatening disease states in the United States, Europe, Latin America, Japan, and the Asia Pacific. It focuses on developing products for the treatment of diseases in the areas of hematology, nephrology, neurology, ophthalmology, and cancer. The company develops and commercializes Soliris (eculizumab), a therapeutic product for the treatment of patients with paroxysmal nocturnal hemoglobinuria (PNH), a blood disorder. It also conducts various Phase II clinical trail programs on Soliris for its usage for the treatment of cold agglutinin disease; atypical hemolytic uremic syndrome; presensitized renal transplant; kidney transplant for catastrophic antiphospholipid syndrome; ABO incompatible renal transplant; dense deposit disease; myasthenia gravis; neuromyelitis optica; and dry a ge-related macular degeneration. In addition, the company conducts Phase IV clinical trails on Soliris for its usage for the treatment of PNH registry; and Phase I clinical trails on Samalizumab for the treatment of oncology diseases, such as chronic lymphocytic leukemia and multiple myeloma. Alexion Pharmaceuticals, Inc. serves specialty distributors and specialty pharmacies, which supply physician office clinics, hospital outpatient clinics, infusion clinics, or home health care providers; government agencies; and hospitals, hospital buying groups, pharmacies, other healthcare providers, and distributors. The company was founded in 1992 and is headquartered in Cheshire, Connecticut.
- [By Stephen Quickel]
In the healthcare sector, we are restoring two previously successful picks to our recommended list: Alexion Pharmaceuticals (ALXN) and pharmacy benefits leader Express Scripts (ESRX).
- [By Benjamin Shepherd]
The pharmaceutical business has become one of the most competitive in the world, as companies race to develop the next blockbuster treatment for heart disease, depression or some other common condition. The deeper the patient pool, the greater the profits, so major pharmaceutical companies are willing to pour billions of dollars into developing new drugs.
Given that tough landscape, many upstarts in the industry have chosen to focus on treating rare diseases for which few if any treatment options exist.
Drugs meant to treat those orphan diseases receive an expedited review process at the Food and Drug Administration (FDA), allowing them to reach the market in just a fraction of the time of other drugs. The FDA also allows for the compassionate use of drugs which have not yet been approved for the sickest patients if the drug has been proven to be relatively safe, creating an immediate if small income stream earlier in the development process.
D rugs meant just to treat hundreds or even just 10,000 patients rarely sell in the sort of volume that results in blockbuster drugs that generate $1 billion or more in annual sales. But whats lost in volume can often be made up for in price.
Alexion Pharmaceuticals (NSDQ: ALXN) exemplifies this dynamic. The companys Soliris is the worlds single most expensive drug, costing nearly $410,000 for a year’s worth of treatment. Initially approved for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a life-threatening condition in which the immune system destroys red blood cells during the night, it was later approved for the treatment of atypical hemolytic uremic syndrome (aHUS).
In patients with aHUS, small blood clots form in the body, red blood cells break down and, since so many clotting agents in the blood are captured in abnormal clots, patients are at risk of abnormal bleeding. As the disease progresses, organs are damaged and shut down , resulting in death.
Hot Life Sciences Companies To Watch For 2014: Rackspace Hosting Inc(RAX)
Rackspace Hosting, Inc. operates in the hosting and cloud computing industry. It provides information technology (IT) as a service, managing Web-based IT systems for small and medium-sized businesses, as well as large enterprises worldwide. The company?s service suite includes dedicated hosting comprising customer management portal and other management tools that manage data center, network, hardware devices, and operating system software; and cloud computing that enables customers to provide and manage a pool of computing resources, as well as delivery of computing resources to business when they need them. It offers cloud servers, cloud files, and cloud sites, as well as cloud applications, such as email, collaboration, and file back-ups; and hybrid hosting that provides a combination of dedicated hosting and cloud computing services. The company also offers customer support services. It sells its service suite through direct sales teams, third-party channel partners, an d online ordering. The company was formerly known as Rackspace.com, Inc. and changed its name to Rackspace Hosting, Inc. in June 2008. Rackspace Hosting, Inc. was founded in 1998 and is headquartered in San Antonio, Texas.
- [By Jake L’Ecuyer]
Equities Trading DOWN
Shares of Rackspace Hosting (NYSE: RAX) were down 13.47 percent to $42.67 after the company reported a 40 percent drop in its third-quarter net income.
- [By Jon C. Ogg]
Rackspace Hosting Inc. (NYSE: RAX) was supposed to have its earnings report out after the close of trading on Monday. The big news is not that Rackspace managed to beatrevenue expectations -Rackspace also announced that Lanham Napier has retired from the company as Chief Executive Officer and as a member of the Board of Directors.
- [By Tim Beyers]
Shares of Rackspace Hosting (NYSE: RAX ) fell more than 24% Thursday, leaving essentially no investors who believe this is one of the best stocks to invest in now.
- [By Lauren Pollock]
Rackspace Hosting Inc.’s(RAX) third-quarter profit fell 40%, with growth in costs and expenses masking a rise in revenue. Shares were down 7.3% to $45.69 premarket as the company’s earnings came in below Wall Street expectations.
5 Best Sliver Stocks To Own Right Now: Christopher & Banks Corporation (CBK)
Christopher & Banks Corporation, through its subsidiaries, operates retail stores that provide womens apparel and accessories in the United States. The company designs, sources, and sells apparel catering to customers generally ranging in age from 45 to 60. Its stores offer knit tops, woven tops, jackets, sweaters, skirts, denim bottoms, bottoms made of other fabrications, and dresses in various sizes, as well as jewelry and accessories. As of March 13, 2013, the company operated 605 stores in 44 states, including 381 Christopher & Banks stores, 158 C.J. Banks stores, 41 dual stores, and 25 outlet stores. It also operates e-Commerce Web sites christopherandbanks.com and cjbanks.com. The company was formerly known as Brauns Fashions Corporation and changed its name to Christopher & Banks Corporation in July 2000. Christopher & Banks Corporation was founded in 1956 and is headquartered in Plymouth, Minnesota.
- [By Dan Caplinger]
On Friday, Christopher & Banks (NYSE: CBK ) will release its latest quarterly results. With the company having recovered from the brink of failure a year ago, investors are wondering what the retailer still has planned to produce further growth.
5 Best Sliver Stocks To Own Right Now: SL Green Realty Corporation(SLG)
SL Green Realty Corp. is a real estate investment trust (REIT). The firm engages in the property management, acquisitions, financing, development, construction, and leasing. It also provides tenant services to its clients. The firm invests in real estate markets of the United States. It primarily invests in commercial office and retail properties. SL Green Realty Corp. was founded in 1970 and is based in New York, New York.
- [By Marc Bastow]
Property management, financing and construction real estate investment trust (REIT) SL Green (SLG) raised its quarterly dividend 51.5% to 50 cents per share, payable on Jan. 15 to shareholders of record as of Dec. 31.
SLG Dividend Yield: 2.2%
- [By Marc Bastow]
Property management and financing real estate investment trust SL Green Realty (SLG) raised its quarterly dividend 52% to 50 cents per share. SLG did not release a payment or ex-dividend date for the new dividend.
SLG Dividend Yield:2.04%