Sanofi cuts profit forecast
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Sanofi-Aventis SA cut its 2006 earnings forecast Friday, warning that generic drug maker Apotex Corp. may have flooded the U.S. market with cheaper copies of the French company's blockbuster blood-thinning pill, Plavix.
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US drugs company Merck said its profits will fall next year as it continues to feel the pain of the withdrawal of its arthritis drug Vioxx from the market.
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Tyson Foods Inc  cut its 2007  earnings outlook on Wednesday primarily because of  higher-than-expected live cattle and hog costs and a decline in  beef revenue due to a disruption in South Korean beef trade.
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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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British pharmaceutical giant GlaxoSmithKline said Wednesday it would cut jobs and costs as it blamed a fall in third-quarter profits on sliding sales of controversial diabetes drug Avandia.
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Health insurer Wellpoint Health  Networks Inc. WLP.N on Friday trimmed its earnings forecast  for the fourth quarter, citing merger costs and a  larger-than-expected debt repurchase last month.
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Tyson Foods Inc. TSN.N on Monday cut  its earnings forecast after making a wrong bet on the direction  of grain prices and demand for chicken and beef proved weaker  than expected, sending its shares down 8 percent.
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Sony Corp. on Thursday cut its operating  profit estimate for this business year by 31 percent, citing  sharply falling prices of televisions, DVD recorders and other  key products, and weak demand for chips.
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GlaxoSmithKline said it would cut jobs as part of a cost-savings plan after a sharp drop in sales of its diabetes drug and generic competition led to a 5.8 percent drop in profits.
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Unilever, the consumer goods giant, slashed its profit growth forecasts yesterday in the face of poor sales, weakening consumer spending and tough competition.
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Merck &amp; Co. Inc. (MRK.N: Quote, Profile, Research) , reeling from the recent withdrawal of its Vioxx arthritis drug, on Wednesday said 2005 earnings will decline to
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LONDON Unilever, the world&#39;s largest maker of food and soap products, cut its profit forecast on Monday, sending its shares to their lowest level in four years.
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Tyson Foods Inc. (TSN.N: Quote, Profile, Research) on Monday cut its fiscal 2004 earnings forecast because of weaker-than-expected demand for chicken and beef and unexpectedly steep raw material costs.
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Sanofi-Aventis  posted higher-than-expected fourth-quarter current operating profit, despite healthcare savings in Europe as well as generic rivalry, and the drugmaker predicted more growth for 2007.
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Slashed earnings estimate pulls down shares.
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Japan&#39;s Sanyo Electric Co. Ltd. reported  a swing to an annual operating profit after cost cuts more than  offset sluggish digital camera sales, but it forecast an  unexpected earnings decline for this year.
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Merck & Co. MRK.N on Thursday said  its third-quarter profit fell, hurt by negative effects of the  recall last month of its Vioxx arthritis drug.