Amgen profit falls sharply but tops Street
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NEW YORK/LOS ANGELES  - Amgen Inc  reported sharply lower third-quarter profit on Wednesday on plunging sales of its most important anemia drugs, amid new insurance-coverage restrictions and ongoing 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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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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Wall Street stocks fell sharply on Friday after a cautious earnings outlook at American Express (NYSE:AXP) added to worries that US consumer spending is headed for a sharp slowdown.
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Fourth-quarter profits fell at Texas Instruments Inc., although the big maker of chips for cell phones beat Wall Street's expectations.
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Amgen  reported on Thursday that its fourth-quarter profit edged higher as cost cutting helped offset sharply declining sales of its anemia drugs that have been hit with safety concerns and new restrictions on use and insurance reimbursements.
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Shares of Albertsons fell more than 8 per cent to $23.65 after the number two US supermarket chain missed quarterly earnings expectations and warned full-year profit would be at the low end of estimates.
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The clothing retailer's profits take a hit on weather woes and bigger-than-expected markdowns
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European stock markets fell strongly in early trading, hit by profit-taking following a weak overnight showing by Wall Street and gloom for Asian markets.
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Amgen Inc. AMGN.O, the world's  biggest biotechnology company, on Wednesday said quarterly net  profit fell on acquisition charges but adjusted earnings rose  21 percent on strong sales of its drugs for anemia and  arthritis.
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AMR Corp  shares fell over 14 percent on Monday, its biggest one-day loss in more than four years, after the parent of American Airlines issued a disappointing revenue forecast, stoking concerns of slowing demand and rising costs.
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Business & money: Share price plunges after disappointing profits raising fears over America's economic slowdown
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U.S. stocks slid sharply on Friday, after bellwether stocks such as Caterpillar and Google posted disappointing earnings.
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Sears, Roebuck and Co. on Thursday  said quarterly profit fell sharply compared with a year  earlier, when the department store operator had a gain from the  sale of its credit card business, but the profit topped  forecasts as the retailer slashed costs.
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LONDON (CBS.MW) -- ABN Amro (ABN) (NL:30110) warned 2004 operating profits will fall, hit by aa greater than expected hit from its US mortgage business.
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Profit fell 94 percent in the third quarter as sales fell in the companyâs cell phone business, but it forecast better-than-expected fourth-quarter results.
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U.S. investment bank Morgan Stanley  MWD.N on Wednesday said quarterly profit dropped 34 percent  amid reduced trading revenue, falling well short of Wall  Street's already-lowered expectations after a summer of  sluggish market activity.