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Winners & Losers
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The Israel-based Teva Pharmaceutical TEVA said due to a $382 million charge for its CoGenesys acquisition, net income fell to $147 million, or 18 cents a share, from 42 cents a share a year prior. On an adjusted basis, factoring out the charge, the company said it earned $529 million, or 64 cents a share, on revenue of $2.57 billion. Results were slightly higher than expectations of analysts, who were looking for earnings of 63 cents a share on revenue of $2.53 billion. But Teva's share slid 1.5% at $46.63. Teva -- in addition to aforementioned Merck -- is a component of the Amex Pharmaceutical index, which was down 0.3% at 304.35. Faring better, McKesson MCK said Monday post close that its fourth-quarter profit also beat Wall Street estimates, rising to $307 million, or $1.05 a share, up from $257 million, or 85 cents a share, in the year-ago period. Revenue increased 9% to $26.23 billion, close to its part of the Thomson Financial consensus target of $1 a share on revenue of $26.83 billion. The company, which serves the healthcare industry, said it expects to earn between $3.75 and $3.90 a share for the year, while analysts had estimated $3.78 a share, on average. Shares were up 7.8% at $58.29 Tuesday.
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