Earnings Roundup: Northrop Grumman, Eli Lilly
Among the earnings stories for Wednesday, Oct. 21, from AP Financial News:
WASHINGTON (AP) ¿ Northrop Grumman Corp. said earnings for the third quarter were hurt by higher pension costs, but solid revenue and a tax break pushed results well past analyst estimates. The maker of military aircraft and defense electronics also lifted its profit outlook for the year.
INDIANAPOLIS (AP) ¿ Eli Lilly & Co. turned a third-quarter profit as sales volume on several drugs climbed, but its newest drug and a possible key source of future revenue started slowly.
RICHMOND, Va. (AP) ¿ The Marlboro Man roped in a larger portion of the cigarette market even as smokers bought fewer of Altria Group Inc.'s cigarettes in the third quarter.NEW YORK (AP) ¿ Supertex Inc. shares fell after the chip maker's fiscal second-quarter profit missed Wall Street forecasts as its profit margin shrank. MINNEAPOLIS (AP) ¿ Investment bank Piper Jaffray Cos. said it posted a third-quarter profit, reversing a year-ago loss, as revenue in its institutional brokerage unit more than doubled. DENVER (AP) ¿ Freeport-McMoRan Copper & Gold Inc. said that quarterly earnings rose for the first time this year as the mining giant cut costs, developing countries bought copper and investors nervous about the economy bought gold. PARAMUS, N.J. (AP) ¿ Hudson City Bancorp Inc., a holding company for Hudson City Savings Bank, said its third-quarter profit rose 11 percent as it increased its net interest margin, acquired more retail loans through refinancings and boosted its deposits.
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