| As of Friday, November 13th: |
As of October 1st, the earnings growth rate was at -24.7%.Of the 463 S&P 500 companies who have reported Q3, 80% beat estimates, 6% were in-line, and 14% were below estimates. The blended earnings growth rate for the S&P 500 for Q3 2009 is currently at -13.8%. (Data provided by Thomson Reuters)
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A new report in the Journal of the American Medical Association is highly critical of drugmaker Merck and its handling of the painkiller Vioxx.
The JAMA article says Merck [MRK
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] misrepresented apparent Vioxx-related deaths in studies to see if the drug worked on Alzheimer's Disease.
A review of the clinical trials, which came to light during the Vioxx litigation, shows a three-fold increase in the risk of death among the patients who got Vioxx, according to the peer-reviewed medical journal.
But in a press release, Merck says that after careful analysis there was no suggestion the deaths were caused by the drug and that the JAMA report's conclusions are "false, misleading, or lack context".
Merck voluntarily pulled Vioxx off the market in 2004 because of an increased heart risk. The company has since settled most of the resulting lawsuits for nearly $5 billion.
One of the two authors of the JAMA article was a paid expert witness for Vioxx plaintiffs.
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- Disney Profit, Sales Top Forecasts; Shares Jump
Walt Disney shares rose in after-hours trading Thursday after the company reported earnings and revenue that beat analysts' expectations.
- Nordstrom Earnings Miss Forecasts; Shares Take Hit
Nordstrom reported earnings that missed analysts expectations by a penny but beat on revenue, causing the company's shares to fall in after-hours trading.
- Wal-Mart Holiday Forecast Light, Profit Beats
Wal-Mart Stores posted a higher-than-expected quarterly profit, but forecast earnings during the key holiday quarter that could miss Wall Street estimates as its customers face rising unemployment.
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- Kohl's Profit Beats Street, But Outlook Falls Short
Department store operator Kohl's Corp reported a larger-than-expected quarterly profit Thursday, but gave an outlook below Wall Street estimates for the period that includes the key holiday season.
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Data is a real-time snapshot *Data is delayed at least 15 minutes