Market News
Baxter International (BAX)
Baxter International reported earnings of $0.87 per share versus $0.74 per share for the year ago quarter. Sales for the quarter were $3.15 billion which is flat for the year ago quarter.
Baxter attributes the earnings growth on flat sales to lowered expenses, improved margins, and a stock buyback program.
Oct 15 · 11:31:00 AM · Source: Market Watch
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Boeing (BA)
Boeing on Thursday received a $21.8 million engineering project contract from the Air Force.
The Air Force contract is for engineering development models for a network system that will provide secure and universal information exchange.
Oct 15 · 11:24:00 AM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Suffolk Bancorp (SUBK)
Suffolk Bancorp (NASDAQ:SUBK) Thursday released the results of its operations during the third quarter of 2009. Earnings-per-share were $0.63, an increase of 6.8 percent from $0.59 during the comparable period of 2008. Net income was $6,028,000, up 6.3 percent from $5,673,000 during the same quarter last year. Earnings-per-share for the year to date were $1.81, down 8.6 percent from $1.98 a year ago.
Suffolk CEO says Suffolk’s performance this past quarter "would be gratifying in any economy, and is even more so considering the ongoing sluggishness both regionally and nationally."
Oct 15 · 11:24:00 AM · Source: Business Wire
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Amgen (AMGN)
Amgen’s new osteoporosis drug, Denosumab, which is scheduled for FDA approval on October 19, may now be delayed.
Denosumab is viewed by some as the most significant biotech launch in years. Analysts are now expecting a possible 3-month delay in approval because the FDA may want more time to study the drug’s safety record.
Oct 15 · 11:17:00 AM · Source: Easy Bourse
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Fairchild Semiconductor International, Inc. (FCS)
Fairchild Semiconductor (NYSE: FCS), a leading global supplier of high performance products to drive energy-efficiency, today announced results for the third quarter ended September 27, 2009. Fairchild reported third quarter sales of $331.8 million, up 19 percent from the prior quarter and 23 percent lower than the third quarter of 2008.
Fairchild reported third quarter net income of $2.7 million or $0.02 per diluted share compared to a net loss of $24.9 million or $0.20 per share in the prior quarter and net income of $26.7 million or $0.21 per diluted share in the third quarter of 2008. Gross margin was 26.0 percent compared to 23.2 percent in the prior quarter and 29.9 percent in the year ago quarter. Included in these results is $3 million of accelerated depreciation and a favorable $0.1 million inventory reserve release related to previously announced fab closures.
Company says order rates remain solid across broad range of end markets and regions. It also said that combined channel and internal inventories are down $26 million from the prior quarter
Oct 15 · 11:02:00 AM · Source: Business Wire
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Abbott Labs (ABT)
Abbott Labs on Wednesday reported Q3 earnings of $0.92 beating estimates of $0.90. They also declared a quarterly dividend of $0.40 per share.
Shares soared 3.5% on the news.
Oct 15 · 10:55:00 AM · Source: Market News Video
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
PPG Industries (PPG)
PPG Industries (NYSE:PPG) today reported sales for the third quarter of $3.2 billion, a decline of 24 percent versus the prior year’s third quarter including a 5 percent decline resulting from a business divestiture in 2008. The company reported net income of $159 million, or 96 cents per share. Adjusted net income was $161 million, or 97 cents per share. Third quarter 2008 sales were $4.2 billion, reported net income was $117 million, or 70 cents per share, and adjusted net income was $227 million, or $1.37 per share.
Earnings beat estimates but company predicts dip later in year.
Oct 15 · 10:54:00 AM · Source: Business Wire
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Cisco (CSCO)
Cisco Systems recent offer to purchase Norwegian videoconferencing firm Tandberg for 153.50 crowns per share has been rejected by a group holding 24% of the firm’s outstanding shares.
Amund Lunde, CEO of Oslo life insurance group Pensjonsforsikring and member of the group that turned down the bid said, "We think the price is too low." Cisco's offer values Tandberg at about 23 times next year's projected earnings, slightly above U.S. rival Polycom's multiple of 21.7.
Oct 15 · 10:47:00 AM
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Previous · Next
Advertisement