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Texas Instruments (TXN)
Yahoo Finance is reporting that Texas Instruments raised its fourth-quarter profit and sales outlook on Tuesday, citing an improving market for chips used in cell phones and other electronic gadgets like hard disk drives and video game consoles. Texas Instruments now expects to earn between 47 cents and 51 cents per share, up from a prior estimate of 42 cents to 50 cents and above third-quarter earnings of 42 cents per share.
Dec 8 · 8:46:00 PM · Source: Yahoo Finance
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by Rich Pike
McDonald's (MCD)
McDonald's reported that sales at restaurants open at least a year fell 0.6 percent in the U.S. It was the second consecutive monthly decline for the measure, an important indicator of a restaurant chain's health, and a steeper fall than October's 0.1 percent. This is only the fourth U.S. decrease in 6 1/2 years.
Many analysts believe the high unemployment rate is negatively impacting sales for McDonald's, as well as other fast food chains. Expect continued weak results until unemployment recedes.
Dec 8 · 8:39:00 PM · Source: Yahoo Finance
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by Rich Pike
Procter & Gamble (PG)
Proctor & Gamble announced that A.J. Lafley will step down as chairman effective Jan 1, to be replaced by his CEO successor, Bob McDonald. McDonald took over as CEO in July. Lafley, who took over amid profit warnings and diving stock prices in June 2000, helped right P&G by emphasizing innovation and a "consumer is boss" focus, which included spending more time in personal observation and interviews with consumers.
McDonald took over with P&G sales struggling in the recession, but the company turned in better-than-expected first-quarter results in October and forecast a better outlook for the full year.
McDonald has pledged to aggressively win back market share from lower-priced competitors and store brands; P&G has cut prices across its broad portfolio, stepped up advertising focused on offering value, and added both cheap versions of its products and new premium-priced items.
Dec 8 · 8:33:00 PM · Source: Yahoo Finance
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by Rich Pike
Gilead Sciences (GILD)
U.S. Food and Drug Administration staff cited concerns on Tuesday with the design and analysis of clinical studies intended to support the effectiveness of Gilead Sciences's experimental cystic fibrosis drug.
"There are concerns that assumptions used in the analysis could have been determined retrospectively," the staff said in their 48-page briefing document.
Dec 8 · 3:17:00 PM · Source: Reuters
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by Michael Oliveto
Gilead Sciences (GILD)
Gilead Sciences has filed an appeal in the Indian Intellectual Property Appellate Board (IPAB) to challenge a recent order by an Indian Patent Office that rejected two patent claims for its best seller drug Viread (tenofovir disoproxil fumarate).
In August, the Indian Patent Office in Delhi rejected two patents sought by the firm for Viread after patient groups and Indian company Cipla challenged its patentability.
Dec 8 · 3:14:00 PM · Source: The Economic Times
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by Michael Oliveto
GE (GE)
US officials said they were probing more cases of patients who may have been exposed to excess radiation from CT brain scans involving equipment from GE and Toshiba Machine Co., Ltd.
Food and Drug Administration officials have not determined if there was a problem with the machines themselves or with how they were used said, Dr. Jeffrey Shuren, acting director of the FDA's device center.
Dec 8 · 3:11:00 PM · Source: Reuters
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by Michael Oliveto
General Dynamics (GD)
General Dynamics Information Technology, a business unit of General Dynamics, has been awarded an $18.6 million, five-year contract to support the U.S. Naval Surface Warfare Center, Carderock Division (NSWCCD), Philadelphia, PA, under the Seaport-e contract vehicle.
Under this contract, General Dynamics will provide engineering and technical support of machinery control, machinery information and machinery automation systems.
Dec 8 · 3:06:00 PM · Source: PR NewswIre
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by Michael Oliveto
FedEx (FDX)
FedEx announced that it expects to report earnings of $1.10 per diluted share for the second quarter of 2010.
The Company's previous guidance for the quarter was $0.65-$0.95 per diluted share.
Dec 8 · 2:48:00 PM · Source: Reuters
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by Michael Oliveto
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