Amgen quarterly profit falls sharply
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Amgen Inc  reported sharply lower third-quarter profit on Wednesday on falling sales from its important anemia drugs, amid new insurance coverage restrictions and safety concerns, and on restructuring charges.
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Biotech giant Amgen Inc. reported Thursday that its fourth-quarter profits rose, topping analysts' estimates, despite government warnings about the safety of its popular anemia drugs.
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Brokerage Bear Stearns Companies  on Wednesday said quarterly profit fell 10 percent hurt by lower investment banking revenue and higher expenses.
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Lehman Brothers Holdings Inc   said on Thursday that quarterly earnings fell, hurt by  declining fixed-income revenues.
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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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General Motors Corp. GM.N on Thursday  posted disappointing quarterly earnings and cut its 2004 profit  forecast due to mounting losses in Europe and slowing growth in  China, sending its shares down 5 percent.
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A steeper-than-expected drop in the   U.S. housing market pushed Lennar Corp.'s LEN.N quarterly   profit down 39 percent and prompted the home builder on Tuesday   to slash its forecast for the current period.
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Pharmaceutical wholesaler McKesson  Corp  reported on Thursday that its quarterly profit  fell 17 percent as results were hit by charges and lower profit  margins on generic drugs.
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Oil and gas producer Kerr-McGee Corp. (KMG) on Wednesday reported a fall in quarterly profit, citing a writedown related to a pigment plant and higher environmental charges.
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Profit at PG&amp;E Corp. fell 55.3 percent in the most recent quarter, a drop the company blamed Tuesday on a lingering effect of California&#39;s energy crisis.
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Bank of America Corp  said on Thursday that quarterly profit fell a much larger-than-expected 32 percent, hurt by mounting credit losses and poor trading results in its investment banking unit.
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Amgen Inc  said on Thursday that fourth-quarter profit edged higher, helped by cost cutting, and relieved investors with stronger than expected sales of all its key products.
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Slashed earnings estimate pulls down shares.
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U.S. investment bank Morgan Stanley on  Wednesday said quarterly profit fell amid reduced trading  revenue, reflecting the impact of sluggish markets this summer.
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Youth-oriented retailer Abercrombie &amp; Fitch Co. (ANF.N: Quote, Profile, Research) on Tuesday posted an unexpected fall in quarterly profit as it struggles to boost sales, and said it remained cautious for the rest of the year.
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Gap Inc.'s fourth-quarter profit fell 35 percent in a gloomy performance that triggered a recent management purge and doomed the slumping retailer's newest chain.
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Amgen Inc  reported sharply  lower third-quarter profit on Wednesday on falling sales from  its important anemia drugs, amid new insurance coverage  restrictions and safety concerns, and on restructuring charges.