His hedge fund Baupost Group has meanwhile sold News Corp. and Oracle.
Stocks are mixed, as investors weigh better-than-expected April retail sales against a report that the Fed has mapped out an exit strategy from its bond-buying program.
A string of serious setbacks for possible treatments may be eroding researchers' -- and investors' -- confidence.
Pfizer has multiple health care businesses and Elan has Tysabri royalties and a would-be acquirer.
Stocks are lower as worries about Italy's election dent European markets and the US averages follow suit.
Elan is upgraded to 'market perform,' and Affymax is downgraded to 'neutral.'
Green Mountain is downgraded to 'neutral,' and Wells Fargo is upgraded to 'buy.'
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