Headline News

Johnson & Johnson (JNJ)

J&J to Cut Bonus Targets for Some

The Wall Street Journal is reporting that Johnson & Johnson plans to cut the yearly performance-bonus maximums for 38% of its employees and freeze salaries for certain workers, according to an internal announcement and other company documents. J&J reported a 19% drop in fourth-quarter earnings, largely because of charges related to cost restructuring. The company had announced in November that it was eliminating 8,200 jobs, mostly overseas.
"The cost savings from this program are minimal. It is not why we implemented the program. This program is about creating a global compensation program that is consistent and equitable for our employees across the company," a J&J spokeswoman said.

Feb 18 · 12:10:00 PM · Source: Wall Street Journal
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by Rich Pike

Genzyme (GENZ)

Genzyme Reports 4th Qtr and Full 2009 Results

Genzyme reported fourth-quarter GAAP net income was $23.2 million, or $0.09 per diluted share, compared with $86.7 million, or $0.31 per diluted share, in the same period in 2008. Non-GAAP net income was $83.5 million, compared with $118.2 million in the fourth quarter of 2008. Non-GAAP earnings were $0.31 per diluted share, compared with $0.42 per diluted share in the prior fourth quarter.
Non-GAAP earnings in 2010 are expected to increase to $2.80 – $3.20 per diluted share. GAAP earnings are expected to reach $1.90 – $2.27 per diluted share. Revenue is expected to reach $5.23 – $5.53 billion in 2010, compared with $4.52 billion in 2009.

Feb 18 · 9:45:00 AM · Source: Company Press Release
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by Rich Pike

Quest Diagnostics (DGX)

Quest Diagnostics Declares Dividend

Quest Diagnostics today announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share, payable on April 20, 2010, to shareholders of record of Quest Diagnostics common stock on April 6, 2010.
Quest Diagnostics is the world's leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative new diagnostic tests and advanced healthcare information technology solutions that help improve patient care.

Feb 12 · 7:22:00 AM · Source: Company Press Release
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by Rich Pike

Cephalon (CEPH)

Cephalon Record Sales and Adjusted Net Income

Cephalon today reported 2009 net sales of $2.152 billion, an 11 percent increase compared to net sales of $1.943 billion for 2008. The company is introducing new guidance for 2010. Total sales guidance for 2010 is $2.610-$2.690 billion.
Cephalon has a growing presence in Europe, the Middle East and Africa. Cephalon currently employs approximately 3,000 people in the United States and Europe. U.S. sites include the company's headquarters in Frazer, Pennsylvania, and offices, laboratories or manufacturing facilities in West Chester, Pennsylvania, Salt Lake City, Utah, and suburban Minneapolis, Minnesota.

Feb 12 · 7:19:00 AM · Source: Company Press Release
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by Rich Pike

Merck (MRK)

Merck Earnings Preview

This earnings preview is from Zacks Investment Research, according to IStockAnalyst.com: Merck is scheduled to report its fourth and 2009 results on Feb 16. The Zacks Consensus Estimate for the quarter and full year is pegged at a profit of 78 cents and $3.27 per share, respectively. Earnings estimates for the fourth quarter and 2009 have moved down over the past 30 days as 4 out of the 14 analysts lowered their estimates. In contrast, only 2 analysts raised their expectations.
For 2010, the current Zacks Consensus Estimate is $3.46 per share, representing an approximate growth of 5.8%. However, we witness a clear negative trend with respect to estimate revisions for 2010. Seven of the 17 analysts covering the stock have reduced their estimates over the past 30 days while only 1 analyst revised upward. We believe the loss of patent exclusivity of two of Merck's key drugs has prompted the analysts to lower estimates.

Feb 12 · 7:11:00 AM · Source: IStockAnalyst.com
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by Rich Pike

Boston Scientific (BSX)

Boston Scientific 4th Qtr Results

Reported net loss for the fourth quarter of 2009 was $1.075 billion, or $0.71 per share. Reported net loss for the fourth quarter of 2008 was $2.394 billion, or $1.59 per share, which included a $2.613 billion, or $1.74 per share, goodwill write-down. Net sales for the fourth quarter of 2009 were $2.079 billion, as compared to net sales of $2.002 billion for the fourth quarter of 2008. Excluding the impact of foreign currency and net sales from divested businesses, net sales were flat with the prior period. Net sales for the full year 2009 were $8.188 billion, as compared to net sales of $8.050 billion for the full year 2008
The Company estimates net sales for the full year 2010 of between $8.100 billion and $8.500 billion. Adjusted earnings, excluding acquisition-related credits, restructuring and restructuring-related costs, and amortization expense, are estimated to range between $0.62 and $0.72 per share. The Company estimates net income on a GAAP basis of between $0.37 and $0.49 per share.

Feb 11 · 1:12:00 PM · Source: Company Press Release
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by Rich Pike

UnitedHealth Group (UNH)

UnitedHealth Continues Dividend, Renews Buy Backs

UnitedHealth Group announced today that its Board of Directors, at its regular meeting on February 9, 2010, authorized payment of an annual dividend to shareholders for 2010. The dividend, $0.03 per share, will be paid on April 20, 2010, to all shareholders of record as of the close of business on April 6, 2010. The company also paid a $0.03 per share dividend in 2009. The Board also renewed and increased the Company’s Share Repurchase Program, under which up to 120 million shares of the Company’s common shares may now be repurchased.
UnitedHealth Group repurchased 74 million shares of stock at a weighted average purchase price of $24.26 per share in 2009. As of December 31, 2009, the Company had approximately 1.15 billion common shares outstanding.

Feb 11 · 1:06:00 PM · Source: Company Press Release
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by Rich Pike

Merck (MRK)

Merck Settles Lawsuits Tied To Vioxx

Reuters reported that Merck has agreed to make corporate governance changes and create internal committees to address potential safety issues with its products under a proposed settlement of shareholders lawsuits related to its withdrawn Vioxx painkiller. Merck also agreed to amend its code of conduct and pay as much as $12.2 million in legal fees as part of the settlement, which resolves all derivative litigation against Merck over Vioxx. Many terms of the settlement, such as filling the position of chief medical officer and registering clinical trials with the government, have already been accomplished or are in the process of being completed, a Merck spokesman said.
The Superior Court of New Jersey approved the derivative lawsuit settlement on a preliminary basis on February 8, 2010. A hearing to determine whether the settlement should win final approval has been scheduled for March 22, in New Jersey Superior Court in Atlantic City.

Feb 11 · 1:02:00 PM · Source: Reuters.com
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by Rich Pike

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