Wyeth maintains 2007 earnings forecast
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U.S. drugmaker Wyeth  said on Wednesday it was maintaining its profit forecast for 2007, but added that first-quarter earnings would exceed current Wall Street average estimates of 85 cents per share.
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The company, which makes products ranging from automotive coatings to genetically modified seeds, said it expected 2007 earnings to be at the upper end of its previously announced range of $3.15 to $3.20 a share.
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The generics drugmaker forecasts its 2008 financials.
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UK media group Trinity Mirror said on  Thursday it was confident its 2007 performance would be in line  with expectations but it expected volatility in the advertising  market to continue in 2008.
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Anheuser-Busch Cos. Inc. , brewer of Budweiser and Bud Light, said on Tuesday it expects revenue per barrel to rise in 2007, with price increases planned for early next year.
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The aircraft maker and defense contractor's chief executive  backed its previous earnings forecast for the year.
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Rockwell Collins Inc., a maker of aircraft electronics, on Thursday backed its full-year earnings estimate and put its fiscal 2005 expectations above Wall Street views in anticipation of improved margins in its commercial segment and lower benefits
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Eli Lilly and Co. on Thursday reaffirmed it expects its 2006 earnings to rise 8 percent to 12 percent, but projected disappointing profit growth for 2007 even though its revenues will grow at a faster pace next year.
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Wyeth  on Monday reported a fourth-quarter loss despite strong sales growth of its prescription medicines, as it took another charge of &#36;4.5 billion for costs related to its recalled fen-phen diet drugs.
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The chief financial officer of Wyeth  WYE.N on Monday said the drug maker is considering whether to  repatriate up to $4 billion in profits earned overseas, but is  hesitant because of federal taxes that would have to be paid on  the returned funds.
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The beleaguered drug giant&#39;s lowered forecast isn&#39;t as bad as Wall Street expected. But investors still await the long-term prognosis.
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Wall Street is set to end 2007 with modest gains this week and kick off the new year with all eyes trained on jobs data for signs of recession that could make 2008 a hostile environment for stocks.
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Wyeth  said on Thursday that fourth-quarter earnings rose 17 percent on higher sales of its Enbrel arthritis drug and Prevnar vaccine to prevent childhood infections.
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Magazine group Emap says it will deliver earnings in line with forecast, despite weak sales for consumer titles.
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Wyeth  on Friday said it is  considering cost cuts that could eliminate 10 percent of its  work force over a three-year period, although the U.S.  drugmaker said details of the initiative are not "etched in  stone."
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Microsoft Corp. , whose shares  have fallen nearly 20 percent since its last quarterly report,  will seek to assure investors this week that it is programmed  for growth in its 2007 business year.
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UnitedHealth Group Inc. , which is trying to emerge from a stock options scandal, forecast 2007 net earnings of between $4.7 billion and $4.75 billion on Tuesday, a rise of about 14 percent on better-than-expected revenue.