Health and Healthcare

Genentech Mixes Top-Line & Bottom-Line Numbers (DNA)

Genentech_logo_2Genentech, Inc. (NYSE: DNA) today posted earnings of $0.81 per share and $3.408 billion in revenue. That’s below First Call estimates of $0.88 on $3.36 billion in revenue.  For what this is worth, Genentech noted that earnings were affected by items.

The biotech giant has also noted that guidance for 2008 is now $3.40 to$3.45, rather than its prior guidance of $3.40 to $3.50. 

Genentech saidtwo drugs posted year-over-year declines rather than just one drug lastquarter.  The good news is that the company did beat on its top-linenumbers and its key drugs Avastin and Rituxan were slightly ahead ofplan. 

Unfortunately, it only looks like we’ll get merger data in the conference call because it wasn’t noted in depth here. One issue Genentech has noted is that it filed for FDA approval for its Avastin in kidney cancer which has spread.

Shares of Genentech closed down 2.5% at $79.12 today, and shares are actually trading up about $2.00.

Jon C. Ogg
October 14, 2008

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today.  Don’t miss these offers because they won’t be this good forever.

 

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.