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Abbott Labs (ABT)
A European regulatory body plans to examine whether certain cholesterol drugs have long-term clinical benefits and one potential outcome could be their withdrawal from the market if they come up short.
The review will have implications for Abbott Laboratories and the pharmaceutical unit of Solvay SA, which Abbott is in the process of acquiring for $6.6 billion. Abbott and Solvay co-market the drugs TriCor and Trilipix, which are in a category the European regulatory body will assess.
Oct 27 · 11:16:00 AM · Source: Easy Bourse
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by Michael Oliveto
Textron (TXT)
Textron said today that its third quarter net income fell to $4 million, or 1 cent a share, from $206 million, or 83 cents, a year earlier. Third-quarter sales fell 27 percent to $2.55 billion.
Profit exceeded analysts’ estimates as savings from job cuts helped compensate for reduced production.
Oct 27 · 11:07:00 AM · Source: Company News Release
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by Larry Etter
Wynn Resorts (WYNN)
Wynn Resorts today reported a drop in third-quarter profit Tuesday as the global economic downturn continued to pinch its operations in both Las Vegas and Macau, though the casino operator still managed to top Wall Street expectations on both the top and bottom lines.
Wynn Resorts said today it earned $34.2 million, or 28 cents a share, in the third quarter period, down from $51.2 million, or 49 cents, in the same quarter of 2008. Revenue for the quarter came in at $773.1 million, up slightly from $769.2 million in the third quarter of 2008 as it got a bounce from the opening of its Encore in Las Vegas late last year.
Oct 27 · 10:52:00 AM · Source: Company News Release
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by Larry Etter
U.S. Steel (X)
U.S. Steel today reported a third-quarter net loss of $303 million, or $2.11 a share, compared with net income of $919 million, or $7.79, a year earlier. Sales dropped 61 percent to $2.82 billion.
The company said results will improve in the fourth quarter because of increased demand for flat-rolled steel in North America, led by the auto industry.
Oct 27 · 10:43:00 AM · Source: Company News Release
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by Larry Etter
Firstenergy (FE)
FirstEnergy Corp. said today third quarter 2009 basic and diluted earnings of $0.77 per share of common stock on net income of $230 million and revenue of $3.4 billion. In the third quarter of 2008 basic earnings were $1.55 ($1.54 diluted) per share of common stock on net income of $471 million and revenue of $3.9 billion.
The company said economic downturn and mild weather in its service area held down third quarter results.
Oct 27 · 10:30:00 AM · Source: Company News Release
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by Larry Etter
AK Steel (AKS)
AK Steel today reported net income of $6.2 million, or $0.06 per diluted share of common stock, for the third quarter of 2009, compared to net income of $188.3 million, or $1.67 per diluted share, for the third quarter of 2008. Net sales for the third quarter of 2009 were $1,041.1 million on shipments of 1,047,800 tons, compared to sales of $2,157.6 million on shipments of 1,476,300 tons for the year-ago quarter.
However, the third quarter 2009 results represent a $53.4 million improvement over the second quarter of 2009 net loss of $47.2 million, or $0.43 per diluted share.
Oct 27 · 10:20:00 AM · Source: Company News Release
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by Larry Etter
Anixter International (AXE)
Anixter International Inc., a global distributor of communication products, electrical and electronic wire & cable, fasteners and other small parts, today reported that net income for third quarter ended October 2, 2009 declined to $22.1 million, a fall of 63 percent as compared to $59.7 million reported in the year ago quarter. Sales of $1.27 billion decreased 20 percent compared to sales of $1.59 billion in the year ago quarter.
Oct 27 · 10:16:00 AM · Source: Company News Release
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by Larry Etter
EarthLink Inc. (ELNK)
Earthlink said third quarter earnings decreased to $29,867,000 from $51,895,000 in the prior year's period. Revenue for the third quarter of 2009 was $174.5 million, a decline of 6 percent from the second quarter of 2009 and 24 percent from the year-ago quarter.
But the company's CEO said adjusted EBITDA, free cash flow and net income all came in at the high end of our estimates and as a result, we are slightly raising our full year 2009 guidance.
Oct 27 · 10:10:00 AM · Source: Company News Release
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by Larry Etter
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