Yeah but it is such a bargain right now at only a 34 Billion dollar market cap! -ggg-
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10/16 08:21
Johnson& Johnson's 3rd-Qtr Net Income Rises 16% to $1.53 Bln
By Kerry Dooley
New Brunswick, New Jersey, Oct. 16 (Bloomberg) -- Johnson & Johnson said third-quarter net income rose 16 percent as the company increased sales of drugs and medical devices.
Net income rose to $1.53 billion, or 49 cents a share, from $1.32 billion, or 43 cents a share, in the year-earlier period. Sales rose 11 percent to $8.24 billion, with increases from medical devices used in heart procedures and the Procrit anemia drug.
(Johnson & Johnson will hold a conference call today on third- quarter results, which will be on a Web cast at jnj.com at 8:30 a.m. New York time.)
quote.bloomberg.com
U.S. September Industrial Production Falls 1%, 12th Straight Monthly Drop
U.S. industrial production fell in September, extending its decline to a full year, as terrorist attacks disrupted shipments and forced factories to halt operations.
quote.bloomberg.com
Enron Has $618 Million Third-Quarter Loss; Takes $1.01 Billion in Charges
Enron Corp., the largest energy trader, said it had a third-quarter loss after taking $1.01 billion in charges for restructuring, investment losses, and the planned sale of a water business
quote.bloomberg.com
Wells Fargo Third-Quarter Profit Rises 42% as Net Interest Income Climbs
Wells Fargo & Co. the fifth-largest U.S. bank, said third-quarter profit rose 42 percent as lower interest rates boosted the revenue it makes from lending.
quote.bloomberg.com
Royal Philips Has Third-Quarter Loss as Slowing Economies Curtail Demand
Royal Philips Electronics NV, Europe's No. 1 consumer-electronics maker, had a third-quarter loss and said it expects its first unprofitable year since 1996 as demand for semiconductors, mobile phones and televisions sags
quote.bloomberg.com
From Briefing....
09:05 ET Caterpillar (CAT) 48.20: Reports Q3 net of $0.59 a share, $0.03 worse than consensus, vs yr-ago EPS of $0.62. Expects Q4 earnings to come in below yr-ago level (yr-ago $0.76 vs current Q4 est of $0.82). Sees worldwide sales flat to slightly higher in 2002.
08:58 ET Charles Schwab (SCH) 11.00: Reports Q3 net of $0.06 a share, $0.01 better than consensus, vs yr-ago EPS of $0.12. Rev declined 24.5% to $997 mln.
08:45 ET Maytag (MYG) 28.62: Reports Q3 net of $0.45 a share, $0.04 better than consensus, vs yr-ago EPS of $0.74; says if sales and orders hold at current levels, company will achieve current Q4 consensus.
08:37 ET Black Box (BBOX) 49.52: Reports Q2 net of $0.82 a share, in line with downward guidance of $0.82-$0.83 issued last week. Company reduces Q3 outlook to $0.85-$0.86 (mean $0.97) on rev of $190 mln (mean $209.7 mln).
08:21 ET Biogen (BGEN) 56.49: Reports Q3 earnings of $0.46 a share, $0.02 better than consensus, vs yr-ago EPS of $0.44. Excluding upfront fee paid upon initiation of the ICOS collaboration, company earned $0.49. Based on these results, BGEN expresses confidence in full yr consensus of $1.90.
06:39 ET Hewlett-Packard (HWP) 9.80: Matrix Asset Advisors, an investor in both HWP and Compaq (CPQ), has sent a letter to the board's of both companies urging them to abandon their planned merger, reports the WSJ. Move raises speculation that investors may attempt to derail the deal.
07:42 ET Early Earnings : Diamond Offshore (DO) posts Q3 net of $0.38, 3 cents above consensus. Enron (ENE) reports in-line earnings and reaffirms outlook for 2001 and 2002... United Technologies' (UTX) results also in-line; expects full yr results to meet consensus... Delphi Automotive (DPH) results in-line, but company cuts Q4 outlook to $0.05-$0.15 (mean est. $0.19).
In an article from Bloomberg this morning they reported that earnings have now made the longest deepest decline in 30 years. Good thing valuations are at record highs at the same time. -ggggg-
Good Luck,
Lee |
