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 safety concerns, and on restructuring charges.
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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 and pushing the company's  shares down more than 8 percent.
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J.P. Morgan Chase & Company, the nation's second-largest bank, surprised Wall Street today with a sharp drop in third-quarter earnings.
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Amgen  reported on Thursday that its fourth-quarter profit edged higher as cost cutting helped offset declining sales of its anemia drugs that have been hit with safety concerns and new restrictions on their use and insurance reimbursements.
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Stocks fell sharply on Wednesday after data showing higher-than-expected labor costs fueled concern that inflation and rising interest rates will harm corporate earnings.
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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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Disappointing sales contribute to a sharp fall in profits at Dr Reddy's, the Indian drug producer listed on the New York Stock Exchange.
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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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GlaxoSmithKline PLC reported a 5.8 percent drop in third-quarter net profit Wednesday on strong generic competition and falling sales of its blockbuster diabetes drug in the United States.
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Amgen Inc. , the world's biggest biotechnology company, on Wednesday reported a lower third-quarter profit related to the acquisition of another biotech company.
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Bear Stearns Cos. said yesterday its profit plunged 62 percent in the third quarter as turbulence in the debt market and wrong-way bets on mortgages crunched the investment bank's credit portfolio and bond business.
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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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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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Two large Wall Street firms - Morgan Stanley and Bear Stearns - reported a fall in quarterly profits yesterday in sharp contrast to rival players who presented an upbeat performance the day before.
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NEW YORK - Disappointing earnings from Morgan Stanley and oil prices topping $48 per barrel sent stocks sharply lower Wednesday as investors moved to protect their recent gains. The Dow Jones industrial average dropped 138 points...
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The chemical maker reported a quarterly profit that was lower than expected, in part due to weak demand from the housing and auto markets.
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The contract electronics manufacturer posted a 90 percent drop in quarterly net profit, but earnings excluding special charges were higher than expected.