AstraZeneca in search for deals as revenue falls October 25, 2012 ANGLO-SWEDISH pharma giant AstraZeneca (AZ) will turn to new deals in an effort to stem the decline in its sales, new chief executive Pascal Soriot said yesterday. AZ reported a worse than expected 19 per cent tumble in revenue to $6.68bn (£41.4bn) in its third quarter as the company battles a dwindling pipeline of new [...]
Is there still hope for astrazeneca’s stock given these results? October 25, 2012 BRIAN WHITE | SHORE CAPITAL The results were behind our and consensus estimates at the top line but ahead of estimates at the core earnings per share line – although this was flattered by the previously announced OTC Nexium agreement with Pfizer. It’s hard not to see core EPS estimates trickling up, we are at [...]
Shire replaces CEO as profits miss forecasts October 25, 2012 PHARMACEUTICAL group Shire said yesterday its chief executive Angus Russell would be replaced by Flemming Ornskov, an executive from Bayer, to help steer the acquisitive company to continued growth. The change in management came after the firm missed expectations for the third quarter by reporting non-GAAP diluted earnings per ADS (American Depositary Share) of $1.36, [...]
Murder most mysterious in the Guildhall’s library October 25, 2012 GUESTS at The Game quiz evening, held in aid of St John’s Ambulance, were happily wining and dining in the Guildhall’s Great Hall on Wednesday when their supper was disturbed by a mysterious murder in the library. Donning forensic suits, teams from firms including KPMG, Investec, Hogan Lovells and Ernst & Young boldly set out [...]
Pernod predicts slow Asian profit growth October 25, 2012 PERNOD Ricard yesterday predicted a slowdown in profit growth in the current year after slowing Asian demand for Martell cognac and Scotch whiskies dragged quarterly sales below forecasts. The world’s second-biggest spirits group behind Diageo predicted a rise in underlying profit from recurring operations of close to six per cent in the year to 30 [...]
Bwin shares rise on Zynga casino deal October 25, 2012 ONLINE gambling company Bwin was boosted yesterday when it announced a tie-up with US Facebook game developer Zynga that will see Bwin’s technology used in a range of poker and casino games. The Zynga deal moved Bwin shares up 6.7 per cent yesterday. Zynga announced it was moving into lucrative casino games on Wednesday night, [...]
Stobart confident after tough first half October 25, 2012 HAULIER Stobart said yesterday it plans to push further into the air and biomass sectors after the group relied on tight cost management to offset the pressure being placed on its core transport business by nervous retailers. The company, whose Eddie Stobart trucks deliver goods to retailers like Tesco, on Thursday reported underlying pretax profit [...]
Hibu to suspend its payments on loans October 25, 2012 YELLOW Pages publisher Hibu, struggling with huge debt and a declining core business, yesterday said it would suspend loan payments until it restructured its balance sheet, sending its shares down by as much as 34 per cent. “A number of waivers, consents and amendments are being sought from the wider lending group in the coming [...]
Go-Ahead chairman to retire after 10 years October 25, 2012 TRANSPORT group Go-Ahead said yesterday that its chairman Sir Patrick Brown would retire from the company in April next year, after 10 years leading the board. Andrew Allner, a senior independent director and chairman of the firm’s audit committee, will succeed Sir Patrick from 25 April 2013. “The group is now in a strong position [...]
Positive data suggests US economy picking up faster than rest of world October 25, 2012 THE US economic recovery may now be on a firmer footing, a raft of data releases yesterday suggested, in stark contrast with more gloomy world conditions. Business activity improved in September, hitting zero on the Chicago Fed’s national activity index, up from minus 1.17, implying economic growth rates close to long-term trends. New orders of [...]
