FDA staff said a proposed sleep drug from Merck was effective, but questioned the safety of the product's higher doses. Merck is seeking FDA approval of a drug called suvorexant to treat insomnia. The product will be reviewed Wednesday by an FDA advisory committee.
Next month, iShares, the largest ETF provider by assets, will do something it hasn't done in more than a decade: close one of its 290 ETFs. Experts say that highlights the complications that arise when funds drop out.
Dell sent another letter to Carl Icahn and Southeastern Asset Management seeking more information about their takeover proposal, reiterating that it can't engage in talks before determining whether the proposal is credible.
Chesapeake Energy tapped Robert Douglas Lawler, a 46-year-old executive at Anadarko Petroleum, to succeed Chesapeake co-founder Aubrey McClendon as CEO of the nation's second-largest natural-gas producer.