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| As of Tuesday, December 1st: |
LATEST EARNINGS RESULTS
- Mortgage Applications Up as Rates Continue to Decrease
- Wal-Mart Targets Video Games with Latest Price Cuts
- 'Black Swan' Shuns Public Life Because of Bernanke
- Dubai World To Meet with Creditors Next Week
- FHA to Toughen Mortgage Rules in Lenders Crackdown
- Obama to Send More Troops; Seeks Afghanistan Exit
- GM Removes CEO Henderson; Whitacre Is Interim Chief
- Yahoo Expands Integration with Facebook
- Who Were the Biggest Winners And Losers This Year?
- Treasury Assistance Comes at High Price For GM
- Unemployment to Peak at 10.5%: Moody's Economist
- 8 Stocks to Gain on Obama's Afghan Plan: Analysts
- BofA On Proposed Changes In The Housing Bailout Program
- The Future of The Media Landscape
- November Auto Sales Muddle Along
- Busch: What Obama Won't Say Tonight
- Stick with Equities—Avoid Emerging Markets: Laszlo Birinyi
- Pfizer Chomps On A Carrot
MOST SHARED
- Case Closed but Woods Scrutiny Continues
- Kohlberg Kravis Bidding for Morgan Stanley's CICC Stake
- UK Economy Turned, Inflation to Spike: BoE Economist
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- Keeping America Great
- Australia Regulator Opposes Caltex-Exxon Deal
- GE, Comcast Complete Deal Over NBC Universal: Source
- Toyota Takes Lead Position in Canada in November
Gilead Sciences posted a third-quarter profit that topped Wall Street targets on Thursday, on sales of drugs that fight the virus that causes AIDS, compared with a year-ago net loss due to acquisition-related costs.
The fast-growing company, which named former Avaya [AV
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] and Merck & Co [MRK
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] executive Caroline Dorsa chief financial officer, now expects 2007 product revenue to land at the high end of its existing forecast range of $3.6 billion to $3.7 billion.
Foster City, California-based Gilead reported a profit of $398.3 million, or 42 cents per share, compared with a loss of $52.2 million, or 6 cents per share, a year earlier, when the company took a large charge for its purchase of Corus Pharma.
Analysts, on average, had seen Gilead posting a profit of 39 cents per share, according to Reuters Estimates.
Total revenue grew 41 percent to $1.06 billion, helped by product revenue that increased 44 percent to $961.9 million during the quarter.
Sales of HIV drugs rose 45 percent to $805.8 million, which included a 32 percent jump in sales of the two-drug combination medicine Truvada to $409.1 million.
Sales of the newer Atripla, which combines Truvada with Bristol-Myers Squibb's [BMY
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] Sustiva into a single pill, more than tripled to $241.1 million from $68.4 million in the year-ago period.
On Thursday, the European Medicines Agency said it recommended approval for Atripla. Company executives said on a conference call that final clearance could come before the end of the year.
That news comes a day after Canadian drug regulators approved Atripla for the treatment of HIV infection in adults.
Royalty, contract and other revenue rose 23 percent to $96.9 million. Gilead gets much of its royalty revenue from Roche Holding's sales of Tamiflu flu treatment.
As Roche reported earlier this week, third-quarter Tamiflu sales fell 60 percent following completion of orders for influenza pandemic stockpiles.
Gilead shares [GILD
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] closed up 1.9 percent at $43.51 on the Nasdaq prior to the company's financial report, but were just slightly lower at $43.35, in extended trading.
- Deere Reports Quarterly Net Loss, Revenue Falls
Deere & Co, the world's largest maker of tractors and harvesters, reported a quarterly net loss on Wednesday on weak equipment sales and a series of one-time charges.
- TiVo Reports Quarterly Loss but Matches Forecasts
TiVo announced a quarterly loss that matched analysts' forecasts, but its sales topped expectations.
- Hewlett-Packard Profit Rises, Matches Guidance
Hewlett-Packard said a strong performance in China and improved profit margins in its services business helped drive quarterly earnings 14 percent higher.
- Deere Reports Quarterly Net Loss, Revenue Falls
- Analog Devices Results Beat Expectations; Shares Rise
Analog Devices reported a quarterly profit that fell from a year ago but topped Wall Street's expectations, sending shares higher in extended trading.
- Analog Devices Results Beat Expectations; Shares Rise
- Tyson Food Profit Beats Estimates
- Horton Results Miss Estimates, Shares Drop
- Dell Shares Smacked as Earnings, Sales Miss Forecasts
- Gap Reports Earnings in Line With Forecasts
- Intuit Posts Narrower-Than-Expected Loss
- Sears Posts Second Consecutive Quarterly Loss
- BJ's Wholesale Profit Falls, Hurt by Falling Food Prices
- Salesforce Profit Beats Forecasts, but Shares Fall
- Autodesk Shares Fall on Disappointing Outlook
- Home Depot Profit Beats; Says Markets Under Pressure
- Target Third Quarter Profit Up, Cautious on Fourth
- Weak US Housing Market Drags on Lowe's Profit
- JC Penney Profit Falls, but Shares Up on Forecast
- Disney Profit, Sales Top Forecasts; Shares Jump
- Nordstrom Earnings Miss Forecasts; Shares Take Hit






