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Genzyme (GENZ)
Genzyme Corp. (NASDAQ: GENZ) today reported that third-quarter revenue was $1.06 billion, compared with $1.16 billion in the same period a year ago. Results reflect the impact of the temporary interruption in production of Cerezyme® (imiglucerase for injection) and Fabrazyme® (agalsidase beta) associated with the remediation of the company’s Allston manufacturing facility.
GAAP net income was $16.0 million, or $0.06 per diluted share, compared with $119.6 million, or $0.42 per diluted share, in the third quarter of 2008. Non-GAAP net income was $83.9 million, or $0.31 per diluted share, compared with $151.4 million, or $0.53 per diluted share, in the same period last year. Non-GAAP net income excludes purchase accounting and inventory step-up associated with the acquisition of Bayer oncology assets, and stock compensation.
The company's CEO said that during the next 12 months "we will invest in our existing business and pipeline, while making changes to become stronger and build for our future.”
Oct 21 · 10:12:00 AM · Source: Business Wire
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by Larry Etter
Bolt Technology Corporation (BOLT)
Bolt Technology Corporation (NASDAQ: BOLT) today announced that for the first quarter of fiscal year 2010 -- the three months ended September 30, 2009 -- sales amounted to $7,033,000 compared to $11,263,000 for the first quarter last year. Net income for the quarter amounted to $1,178,000 ($0.14 per share) compared to $2,280,000 ($0.27 per share) for the first quarter last year.
Raymond M. Soto, Bolt’s chairman, president and CEO, commented, “Our operating results for the first quarter of fiscal 2010 reflect the impact of lower marine seismic exploration activity caused by the global economic slowdown
Oct 21 · 10:09:00 AM · Source: Business Wire
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by Larry Etter
Coca-Cola (KO)
Coca-Cola to send team Of "Happiness Ambassadors" on a year-long journey to seek out what makes people happy.
Countless people have taken a year off to travel, but nobody has ever embarked on a trip quite like this before – 206 countries, covering 150,000 miles in just 365 days. From Aruba to Zimbabwe and nearly every nation in between, a team of three young people will attempt to visit 206 countries where Coca-Cola is sold to seek out what makes people happy and share their happiness and enthusiasm with the rest of the world.
Oct 21 · 10:06:00 AM · Source: Business Wire
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by Larry Etter
Northern Trust (NTRS)
Northern Trust Corp. (NTRS) returned to making a profit, posting third quarter earnings of $187.9 million, or 77 cents a share, compared with a year-earlier loss of $148.3 million, or 66 cents. Excluding items including the prior-year costs from the company's supporting its cash-investment funds, earnings rose to 72 cents from 58 cents. Consolidated revenue fell 1% to $927.6 million.
"The financial markets continue to send mixed signals. Although equity markets improved compared with the second quarter, they remain well below year-ago levels and interest rates have fallen dramatically year over year." said Frederick H. Waddell, president and CEO of Northern Trust, which provides investment management and other services to affluent people and institutions.
Chicago bank holding company still fell short of analysts' estimates.
Oct 21 · 10:01:00 AM · Source: Various
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by Larry Etter
Morgan Stanley (MS)
Morgan Stanley announced on Wednesday that it had returned to profitability in the third quarter after three successive quarterly losses. The bank said it earned $498 million or 38 cents a share, compared with $7.7 billion, or $7.38 a share, in the quarter a year ago when results were helped by a one-time gain.
Earnings from continuing operations were $757 million in the third quarter, after a loss of $159 million in the second quarter. The results beat expectations. Analysts had expected earnings 29 cents a share on revenues of about $6.99 billion
Oct 21 · 9:56:00 AM · Source: New York Times
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by Larry Etter
Morgan Stanley (MS)
Morgan Stanley announced on Wednesday that it had returned to profitability in the third quarter after three successive quarterly losses. The bank said it earned $498 million or 38 cents a share, compared with $7.7 billion, or $7.38 a share, in the quarter a year ago when results were helped by a one-time gain.
Earnings from continuing operations were $757 million in the third quarter, after a loss of $159 million in the second quarter. The results beat expectations. Analysts had expected earnings 29 cents a share on revenues of about $6.99 billion
Oct 21 · 9:55:00 AM · Source: New York Times
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by Larry Etter
Chevron (CVX)
Chevron Argentina S.R.L., a producer of oil and natural gas and a wholly-owned subsidiary of Chevron Corporation, has entered into preliminary discussions to sell certain properties located in Argentina to GeoPark Holdings Limited.
GeoPark Holdings is a Bermuda-based oil and gas exploration and production company.
Oct 20 · 4:32:00 PM · Source: Trading Markets
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by Michael Oliveto
ConocoPhillips (COP)
ConocoPhillips’ CEO Jim Mulva said he expects it will be hard for crude supply to meet demand in the years ahead, with output possibly peaking below 100 million barrels per day.
Mulva told reporters at the sidelines of the Oil and Money conference in London, "It's going to be very difficult to get up towards 100 million barrels."
Oct 20 · 3:11:00 PM · Source: Reuters
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by Michael Oliveto
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