CORRECTED: Bristol-Myers Profit Sinks
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Bristol-Myers Squibb Co. BMY.N on  Friday reported a lower third-quarter profit as U.S. revenue  fell amid intense competition for its products from rivals and  generic drugs.
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The drug maker said its fourth-quarter profit fell 70 percent from a year-ago period that included the sale of its consumer health business, but adjusted profit topped Wall Street expectations.
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RKB&quot;&gt; Berkshire Hathaway Inc., the investment company run by Warren E. Buffett, said yesterday that profit fell for a third consecutive quarter after hurricanes hammered its insurance units.
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Merck &amp; Co. profits plunged in the third quarter in the wake of the recall of its Vioxx arthritis drug and Eli Lilly &amp; Co.
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Merck and Co. Inc. MRK.N on Tuesday  said fourth-quarter earnings fell 21 percent, hurt by the  withdrawal last September of its blockbuster arthritis drug  Vioxx and related charges.
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Slashed earnings estimate pulls down shares.
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Cardinal Health Inc., the second-largest distributor of pharmaceuticals and other medical supplies in the United States, reported Thursday that first-quarter earnings fell 25 percent because of declines in drug distribution due to drug maker sales
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Citing its acquisition of MedImmune and falling demand for its ulcer treatment,  the drugmaker said earnings fell to $1.27 billion in the fourth quarter.
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In a Feb. 1 story about Electronic Arts Inc.'s earnings, The Associated Press reported erroneously that third-quarter sales had dropped 38 percent. It was profits that dropped by that margin.
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No. 3 drug chain posts sharp drop in earnings, and slashes guidance again.
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British drinks giant Diageo reported a small fall in annual headline profits before tax, which were crimped by the strength of sterling.
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Merck & Co.  on Thursday said its third-quarter profit fell, hurt by negative effects of the recall last month of its Vioxx arthritis drug.
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(Corrects headline to show Web traffic growth, not Web  sales, fell on Black Friday)
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NEW YORK Merck led blue-chip stocks lower Thursday as the No. 2 US drug maker reduced its profit forecast after withdrawing its Vioxx painkiller.
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The company said third-quarter net income fell 5 percent on weakness in refining, but the decline was less than Wall Street had feared.
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Bristol-Myers Squibb (BMY:NYSE - news - research) reported a sharply lower profit in the third-quarter as generic competition continued to eat away at drug sales and the company ratcheted up spending on research and development of new drugs.
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Tommy Hilfiger (TOM:NYSE - news - research) reported a drop in pretax earnings, lowered its guidance and delayed filing its second-quarter earnings statement amid an investigation by federal prosecutors into tax-related matters.