As consumer spending takes a hit and service-related companies continue to struggle some sectors seem to continue to flourish -- namely biotechnology. And for good reason. One major reason the sector is flourishing is an aging population that seems to be prone to diseases that cause degenerate-disease rates and cancer rates to increase driving up the demand for drugs. A second reason is that biotech companies are aiming to increase the scope of their drugs to treat more than just one disease and to some extent to make them safe from generic competition. Lastly innovation is starting to glimmer ...

Drug stocks gain ground as shares of Medarex Inc. rocketed on news that it was being bought by Bristol-Myers Squibb for $2.1 billion.

Medarex (MEDX) is being acquired by Bristol-Myers (BMY). For stockholders it’s nearly a double from yesterday’s close. For convertible investors it’s a nice kiss on a trade that had very little risk. How so? Medarex has a convertible that was due to mature in May 2011. Yesterday before the announcement it was trading around $0.95 on the dollar. With its 2.25% coupon that’s no great shakes. But with the deal the bond is now around 115. So it becomes a 20% instantaneous return for something where as it appeared you were unlikely to do worse than a modest single-digit ...

Bristol-Myers Squibb reports markedly higher second-quarter earnings early helped by strong sales of its blood-thinning medication Plavix and antidepressant Abilify.

U.S. stock futures rose Thursday as mergers-and-acquisitions activity returned and investors digested earnings from the likes of 3M, AT&T and McDonaldâ??s.

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by TheFortuneFinancial.com.