<TABLE cellSpacing=0 cellPadding=2 width="100%" bgColor=white border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:js="http://cbs.markewatch.com/xsl"><TBODY><TR><TD width="100%">America West Airlines (AWA: news, chart, profile) Wednesday reported first-quarter earnings of $33.6 million, or 62 cents per share, up from its year-ago loss of $1.6 million, or 4 cents per share. The latest quarter included a gain of $48.9 million related to the company's fuel hedging transactions and other items. On an adjusted basis, the Phoenix-based airline lost $10.8 million, or 30 cents per share, in the March period. Revenue rose 11.3 percent in the latest three months to $722.8 million from $649.3 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a loss of 61 cents per share in the quarter on revenue of $607.3 million. Shares of America West, which is reportedly in acquisition talks with US Airways (UAIRQ: news, chart, profile) according to The Wall Street Journal, closed Tuesday at $4.81, down 2.8 percent.
Avaya Inc. (AV: news, chart, profile) late Tuesday reported second-quarter income fell 71% as sales grew slower than expected and costs rose. See full story.
The Bank of New York (BK: news, chart, profile) reported first-quarter earnings of $379 million, or 49 cents a share, up from $364 million, or 47 cents a share in the same period a year ago, and in line with the average analyst estimate compiled by Thomson First Call. Revenue rose 15% to $1.92 billion. Non-interest income fell 3% to $1.2 billion, as declines in service charges and fees and securities gains offset strength in its securities servicing and asset management businesses. The stock closed Tuesday up 49 cents at $28.62.
Champion Enterprises Inc. (CHB: news, chart, profile) swung to a first-quarter profit of $2.7 million, or 3 cents a share. Last year, it posted a loss of $14.3 million, or 21 cents a share. Revenue was $244.3 million vs. $206.7 million.
CheckFree Corp. (CKFR: news, chart, profile) third-quarter income nearly doubled on a solid performance across its core businesses. See full story.
Cheesecake Factory (CAKE: news, chart, profile) reported first-quarter earnings of $19 million, or 24 cents a share, up from $16.6 million, or 21 cents a share, a year ago. Revenue was $268 million vs. $221 million. Analysts expected earnings of 24 cents a share on revenue of $271 million.
Comerica, Inc. (CMA: news, chart, profile) reported first-quarter net income that rose to $199 million, or $1.16 a share, from $162 million, or 92 cents a share, in the year-earlier quarter. Net interest income climbed to $460 million from $445 million a year ago. Loss provisions declined to $1 million from $65 million. The results beat the forecast for earnings of $1.10 a share of analysts polled by Thomson First Call.
Cooper Tire & Rubber Co. (CTB: news, chart, profile) said first-quarter net income eased to $5.2 million, or 7 cents a share, from $24.3 million, or 32 cents a share, hit by a strike and higher raw materials prices. Sales rose 7% to $514 million on improved pricing and product mix. It lost 1 cent a share from continuing operations, against a broker forecast for a loss of 2 cents a share. The company said the strike impact in the second quarter could be as much as 20 cents a share on direct costs plus lost sales and forecast EPS in a range of 1 cent to 5 cents.
C.R. Bard Inc.'s (BCR: news, chart, profile) posted higher first-quarter earnings, easily surpassing Wall Street estimates on the strength of its solid sales and lower costs. See full story.
Cymer Inc. (CYMI: news, chart, profile) reported first-quarter earnings fell to $5.4 million, or 14 cents a share, from $7.2 million, or 19 cents a share, a year ago. Revenue fell to $84.8 million from $87.9 million.
Dover Corp. (DOV: news, chart, profile) posted a higher first-quarter profit as all six of its operating divisions turned in increased sales. See full story.
Ford Motor Co. (F: news, chart, profile) reported first-quarter earnings of $1.21 billion, or 60 cents a share, down from $1.95 billion, or 94 cents a share in the same period a year ago. Excluding discontinued operations and other non-recurring items, earnings would have been 62 cents a share. Revenue rose 0.9% to $45.1 billion from $44.7 billion, amid a 1.3% increase in worldwide automotive sales. Analysts surveyed by Thomson First Call had been expecting earnings of 39 cents a share and revenue of $36.8 billion. For the second-quarter, the automaker expects to breakeven or lose 15 cents a share, excluding special items, vs. analyst projections of 38 cents a share. The stock closed Tuesday down 6 cents at $9.28.
General Dynamics Corp. (GD: news, chart, profile) reported first-quarter income of $336 million, or $1.66 a share, compared with $269 million, or $1.34 a share in the year-ago quarter. Revenue rose to $4.8 billion from $4.6 billion, led by a 24% increase in aerospace sales. The average analyst estimates from Thomson First Call was for earnings of $1.53 a share and sales of $4.9 billion. The defense contractor lifted its outlook for earnings from continuing operations to $6.95 a share vs. Thomson's forecast of $6.81 a share. Stock of General Dynamics fell Tuesday by 17 cents to $104.08.
Gilead Sciences (GILD: news, chart, profile) reported higher-than-expected first-quarter earnings, bolstered by strong sales of its recently launched HIV drug Truvada. See full story.
Harrah's Entertainment (HET: news, chart, profile) reported first-quarter net income of $103.8 million, or 90 cents a share, up 27.1% from $81.7 million, or 73 cents a share in the year-ago period. Adjusted earnings were 97 cents, up from 76 cents. A survey of analysts by Thomson First Call forecast earnings of 93 cents a share. Revenues rose 24% to $1.26 billion. Shares rose $1.22 to $69.15 on Tuesday.
Honeywell International (HON: news, chart, profile) said first-quarter net profit rose 22% to $359 million, or 42 cents a share, with revenue up 4% to $6.45 billion. The Morris Township, N.J.-based industrial conglomerate was expected to post first-quarter EPS of 40 cents on sales of $6.38 billion, according to Thomson First Call-compiled estimates. Aerospace profits rose to $379 million from $307 million, helped by 9% sales growth in the division, and automation and control solutions division profit rose to $201 million from $195 million, helped by rising margins and a 2% sales rise. "Organic growth and strong operational execution contributed to better than expected performance in the quarter," Chairman and CEO Dave Cote said.
IMS Health (RX: news, chart, profile) reported first-quarter earnings of $30.3 million, or 13 cents a share, down from $81.1 million, or 34 cents a share, last year. Revenue was $411 million, up 14% from $361.6 million.
Intel Corp. (INTC: news, chart, profile) reported first-quarter income rose 25%, more than expected, on surging sales of its chips used to power laptops. See full story.
JP Morgan Chase (JPM: news, chart, profile) reported first-quarter net income of $2.3 billion, or 63 cents a share, up 21% from $1.9 billion, or 92 cents a share in the year-ago period. Excluding a litigation charge of $558 million and a merger charge of $90 million for its purchase of Bank One, earnings would have been $2.9 billion, or 81 cents a share. A survey of analysts by Thomson First Call forecasted earnings of 69 cents a share. Shares rose 31 cents to $34.95 on Tuesday.
Juniper Networks Inc. (JNPR: news, chart, profile) reported first-quarter earnings more than doubled as sales of routers remained strong. The stock also received an upgrade from Merrill Lynch before the opening bell. See full story.
Kraft Foods Inc. (KFT: news, chart, profile) earned $713 million, or 42 cents a share, in its first-quarter, 27% higher than a restated $560 million, or 33 cents a share, a year ago. See full story.
Linear Technology Corp. (LLTC: news, chart, profile) said third-quarter earnings jumped 42%, more than expected. See full story.
Lufkin Industries (LUFK: news, chart, profile) first-quarter net income jumped to $7.4 million, or 52 cents a share, from $1.7 million, or 13 cents a share last year, following "substantially increased" sales in all business segments and an improved operating environment, it said. Revenues rose 48% to $101.4 million, while the company's net profit margin surged to 7.3% of net sales in the quarter, from 2.5% last year. Following the stronger-than-expected results, Lufkin increased its 2005 earnings per share guidance to a range of $1.85 to $2.15 from a previous range of $1.50 to $1.75. The Company also said it expects to report second-quarter earnings per share of between 45 cents to 55 cents, compared with 25 cents at the same point last year.
Nova Chemicals (NCX: news, chart, profile) reported first-quarter earnings of $94 million, or $1.06 a share, up from $7 million, or 8 cents a share in the same period a year ago, and above the average analyst estimate compiled by Thomson First Call of 87 cents a share. Revenue rose 32% to $1.49 billion, amid 35% growth in revenue from its olefins/polyolefins business and a 28% increase from its styrenics business. The chemicals company's stock closed Tuesday up $1.13 at $36.66.
OshKosh B'Gosh (GOSHA: news, chart, profile) posted a first-quarter loss that narrowed to $500,000, or 4 cents a share, from $1.2 million, or 10 cents a share, in the year-earlier quarter. The results for the first quarter of 2004 included a $1.1 million pre-tax gain on the sale of a distribution facility. Excluding this one-time item, the company would have reported a loss of $1.9 million, or 16 cents a share.
Pactiv Corp. (PTV: news, chart, profile) reported first-quarter profit rose on increased sales and a steep drop in restructuring charges. See full story.
Seagate Technology (STX: news, chart, profile) posted a 44% increase in its third-quarter profit. See full story.
SigmaTel Inc. (SGTL: news, chart, profile) reported its first quarter profit more than tripled. See full story.
Silicon Graphics Inc. (SGI: news, chart, profile) said its third-quarter loss widened as revenue sank 25% after it failed to close several major server and storage orders at the end of the period. See full story.
Smart & Final Inc. (SMF: news, chart, profile) reported first-quarter earnings of $3.2 million, or 10 cents a share, vs. $6.2 million, or 20 cents a share, a year ago. Revenue was $427.6 million vs. $423.5 million.
Sovereign Bancorp (SOV: news, chart, profile) , still working to digest recent acquisitions, reported a 43% rise in first-quarter profits. See full story.
Sprint Corp. (FON: news, chart, profile) reported first-quarter earnings of $472 million, or 31 cents per share, up from its year-ago equivalent profit of $225 million, or 16 cents per share. Revenue rose 3.4 percent in the latest three months to $6.94 billion from $6.7 billion in the same period a year earlier. The Overland Park, Kan., company attributed the improved year-over-year results to solid performance in each of its businesses, including the addition of 1.3 million total net subscribers in the quarter. It also cited lower long distance depreciation expenses in the latest quarter. The average estimate of analysts polled by Thomson First Call was for earnings of 32 cents per share in the March period on revenue of $6.91 billion.
Stryker Corp. (SYK: news, chart, profile) said first-quarter earnings rose 27%, helped by strong global sales at its orthopedic implants and MedSurg equipment businesses. See full story.
Tellabs (TLAB: news, chart, profile) reported first-quarter earnings of $700,000, or breakeven on a per share basis, down from $13.4 million, or 3 cents a share in the same period a year ago. Excluding non-recurring items, such as restructuring-related charges, earnings would have been 6 cents a share, topping the average analyst estimate compiled by Thomson First Call of 2 cents a share. Revenue rose 65% to $436 million from last year's $264 million, topping analyst forecasts of $408.4 million, boosted acquisitions and double-digit percentage increases in transport, managed access, broadband data and services revenue. The networker's stock closed Tuesday up 40 cents at $7.06.
Teradyne Inc. (TER: news, chart, profile) reported a first-quarter loss of $52.6 million, or 27 cents a share. Last year, it posted earnings of $40.2 million, or 20 cents a share. Revenue for the quarter was $305.6 million vs. $430.6 million. For the second quarter, it forecast a loss of 24 cents to 35 cents a share on revenue of $290 million to $320 million.
United Technologies (UTX: news, chart, profile) earned $651 million, or $1.28 a share, on revenue of $9.4 billion, up from $551 million, or $1.08 a share, on revenue of $8.6 billion a year earlier. The average estimates of analysts polled by Thomson First Call were for earnings of $1.25 and revenue of $9.2 billion. The company said it now expects full year earnings of $5.90 to $6.15 a share and revenue of about $43 billion. The forecast doesn't reflect a previously announced two-for-one stock split that is payable June 10. Analysts were expecting earnings of $6.06 and revenue of $40.3 billion for the year, on average.
Washington Mutual (WM: news, chart, profile) reported first-quarter income fell nearly 14%. See full story.
Wendy's International (WEN: news, chart, profile) shares were downgraded by J.P. Morgan to "neutral" due to valuation.
Wyeth (WYE: news, chart, profile) said first-quarter net income rose to $1.078 billion, or 80 cents a share, from $749.7 million, or 55 cents a share, in the year-earlier quarter. The first quarter included an after-tax charge of $94.6 million, or 7 cents a share related to an upfront payment to Solvay Pharmaceuticals. Revenue for the period climbed 14% to $4.48 billion driven by strong sales of key products Effexor and Enbrel. The results beat the forecast for earnings of 77 cents a share of analysts polled by Thomson First Call. Looking ahead, Wyeth said it sees 2005 earnings at the top end of its $2.70 to $2.80 per share range.
Yahoo! Inc. (YHOO: news, chart, profile) said first-quarter profit more than doubled as its online advertising revenue surged to more than $1 billion for the first time. See full story.
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Michael Baron is a reporter for MarketWatch in New York.
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Avaya Inc. (AV: news, chart, profile) late Tuesday reported second-quarter income fell 71% as sales grew slower than expected and costs rose. See full story.
The Bank of New York (BK: news, chart, profile) reported first-quarter earnings of $379 million, or 49 cents a share, up from $364 million, or 47 cents a share in the same period a year ago, and in line with the average analyst estimate compiled by Thomson First Call. Revenue rose 15% to $1.92 billion. Non-interest income fell 3% to $1.2 billion, as declines in service charges and fees and securities gains offset strength in its securities servicing and asset management businesses. The stock closed Tuesday up 49 cents at $28.62.
Champion Enterprises Inc. (CHB: news, chart, profile) swung to a first-quarter profit of $2.7 million, or 3 cents a share. Last year, it posted a loss of $14.3 million, or 21 cents a share. Revenue was $244.3 million vs. $206.7 million.
CheckFree Corp. (CKFR: news, chart, profile) third-quarter income nearly doubled on a solid performance across its core businesses. See full story.
Cheesecake Factory (CAKE: news, chart, profile) reported first-quarter earnings of $19 million, or 24 cents a share, up from $16.6 million, or 21 cents a share, a year ago. Revenue was $268 million vs. $221 million. Analysts expected earnings of 24 cents a share on revenue of $271 million.
Comerica, Inc. (CMA: news, chart, profile) reported first-quarter net income that rose to $199 million, or $1.16 a share, from $162 million, or 92 cents a share, in the year-earlier quarter. Net interest income climbed to $460 million from $445 million a year ago. Loss provisions declined to $1 million from $65 million. The results beat the forecast for earnings of $1.10 a share of analysts polled by Thomson First Call.
Cooper Tire & Rubber Co. (CTB: news, chart, profile) said first-quarter net income eased to $5.2 million, or 7 cents a share, from $24.3 million, or 32 cents a share, hit by a strike and higher raw materials prices. Sales rose 7% to $514 million on improved pricing and product mix. It lost 1 cent a share from continuing operations, against a broker forecast for a loss of 2 cents a share. The company said the strike impact in the second quarter could be as much as 20 cents a share on direct costs plus lost sales and forecast EPS in a range of 1 cent to 5 cents.
C.R. Bard Inc.'s (BCR: news, chart, profile) posted higher first-quarter earnings, easily surpassing Wall Street estimates on the strength of its solid sales and lower costs. See full story.
Cymer Inc. (CYMI: news, chart, profile) reported first-quarter earnings fell to $5.4 million, or 14 cents a share, from $7.2 million, or 19 cents a share, a year ago. Revenue fell to $84.8 million from $87.9 million.
Dover Corp. (DOV: news, chart, profile) posted a higher first-quarter profit as all six of its operating divisions turned in increased sales. See full story.
Ford Motor Co. (F: news, chart, profile) reported first-quarter earnings of $1.21 billion, or 60 cents a share, down from $1.95 billion, or 94 cents a share in the same period a year ago. Excluding discontinued operations and other non-recurring items, earnings would have been 62 cents a share. Revenue rose 0.9% to $45.1 billion from $44.7 billion, amid a 1.3% increase in worldwide automotive sales. Analysts surveyed by Thomson First Call had been expecting earnings of 39 cents a share and revenue of $36.8 billion. For the second-quarter, the automaker expects to breakeven or lose 15 cents a share, excluding special items, vs. analyst projections of 38 cents a share. The stock closed Tuesday down 6 cents at $9.28.
General Dynamics Corp. (GD: news, chart, profile) reported first-quarter income of $336 million, or $1.66 a share, compared with $269 million, or $1.34 a share in the year-ago quarter. Revenue rose to $4.8 billion from $4.6 billion, led by a 24% increase in aerospace sales. The average analyst estimates from Thomson First Call was for earnings of $1.53 a share and sales of $4.9 billion. The defense contractor lifted its outlook for earnings from continuing operations to $6.95 a share vs. Thomson's forecast of $6.81 a share. Stock of General Dynamics fell Tuesday by 17 cents to $104.08.
Gilead Sciences (GILD: news, chart, profile) reported higher-than-expected first-quarter earnings, bolstered by strong sales of its recently launched HIV drug Truvada. See full story.
Harrah's Entertainment (HET: news, chart, profile) reported first-quarter net income of $103.8 million, or 90 cents a share, up 27.1% from $81.7 million, or 73 cents a share in the year-ago period. Adjusted earnings were 97 cents, up from 76 cents. A survey of analysts by Thomson First Call forecast earnings of 93 cents a share. Revenues rose 24% to $1.26 billion. Shares rose $1.22 to $69.15 on Tuesday.
Honeywell International (HON: news, chart, profile) said first-quarter net profit rose 22% to $359 million, or 42 cents a share, with revenue up 4% to $6.45 billion. The Morris Township, N.J.-based industrial conglomerate was expected to post first-quarter EPS of 40 cents on sales of $6.38 billion, according to Thomson First Call-compiled estimates. Aerospace profits rose to $379 million from $307 million, helped by 9% sales growth in the division, and automation and control solutions division profit rose to $201 million from $195 million, helped by rising margins and a 2% sales rise. "Organic growth and strong operational execution contributed to better than expected performance in the quarter," Chairman and CEO Dave Cote said.
IMS Health (RX: news, chart, profile) reported first-quarter earnings of $30.3 million, or 13 cents a share, down from $81.1 million, or 34 cents a share, last year. Revenue was $411 million, up 14% from $361.6 million.
Intel Corp. (INTC: news, chart, profile) reported first-quarter income rose 25%, more than expected, on surging sales of its chips used to power laptops. See full story.
JP Morgan Chase (JPM: news, chart, profile) reported first-quarter net income of $2.3 billion, or 63 cents a share, up 21% from $1.9 billion, or 92 cents a share in the year-ago period. Excluding a litigation charge of $558 million and a merger charge of $90 million for its purchase of Bank One, earnings would have been $2.9 billion, or 81 cents a share. A survey of analysts by Thomson First Call forecasted earnings of 69 cents a share. Shares rose 31 cents to $34.95 on Tuesday.
Juniper Networks Inc. (JNPR: news, chart, profile) reported first-quarter earnings more than doubled as sales of routers remained strong. The stock also received an upgrade from Merrill Lynch before the opening bell. See full story.
Kraft Foods Inc. (KFT: news, chart, profile) earned $713 million, or 42 cents a share, in its first-quarter, 27% higher than a restated $560 million, or 33 cents a share, a year ago. See full story.
Linear Technology Corp. (LLTC: news, chart, profile) said third-quarter earnings jumped 42%, more than expected. See full story.
Lufkin Industries (LUFK: news, chart, profile) first-quarter net income jumped to $7.4 million, or 52 cents a share, from $1.7 million, or 13 cents a share last year, following "substantially increased" sales in all business segments and an improved operating environment, it said. Revenues rose 48% to $101.4 million, while the company's net profit margin surged to 7.3% of net sales in the quarter, from 2.5% last year. Following the stronger-than-expected results, Lufkin increased its 2005 earnings per share guidance to a range of $1.85 to $2.15 from a previous range of $1.50 to $1.75. The Company also said it expects to report second-quarter earnings per share of between 45 cents to 55 cents, compared with 25 cents at the same point last year.
Nova Chemicals (NCX: news, chart, profile) reported first-quarter earnings of $94 million, or $1.06 a share, up from $7 million, or 8 cents a share in the same period a year ago, and above the average analyst estimate compiled by Thomson First Call of 87 cents a share. Revenue rose 32% to $1.49 billion, amid 35% growth in revenue from its olefins/polyolefins business and a 28% increase from its styrenics business. The chemicals company's stock closed Tuesday up $1.13 at $36.66.
OshKosh B'Gosh (GOSHA: news, chart, profile) posted a first-quarter loss that narrowed to $500,000, or 4 cents a share, from $1.2 million, or 10 cents a share, in the year-earlier quarter. The results for the first quarter of 2004 included a $1.1 million pre-tax gain on the sale of a distribution facility. Excluding this one-time item, the company would have reported a loss of $1.9 million, or 16 cents a share.
Pactiv Corp. (PTV: news, chart, profile) reported first-quarter profit rose on increased sales and a steep drop in restructuring charges. See full story.
Seagate Technology (STX: news, chart, profile) posted a 44% increase in its third-quarter profit. See full story.
SigmaTel Inc. (SGTL: news, chart, profile) reported its first quarter profit more than tripled. See full story.
Silicon Graphics Inc. (SGI: news, chart, profile) said its third-quarter loss widened as revenue sank 25% after it failed to close several major server and storage orders at the end of the period. See full story.
Smart & Final Inc. (SMF: news, chart, profile) reported first-quarter earnings of $3.2 million, or 10 cents a share, vs. $6.2 million, or 20 cents a share, a year ago. Revenue was $427.6 million vs. $423.5 million.
Sovereign Bancorp (SOV: news, chart, profile) , still working to digest recent acquisitions, reported a 43% rise in first-quarter profits. See full story.
Sprint Corp. (FON: news, chart, profile) reported first-quarter earnings of $472 million, or 31 cents per share, up from its year-ago equivalent profit of $225 million, or 16 cents per share. Revenue rose 3.4 percent in the latest three months to $6.94 billion from $6.7 billion in the same period a year earlier. The Overland Park, Kan., company attributed the improved year-over-year results to solid performance in each of its businesses, including the addition of 1.3 million total net subscribers in the quarter. It also cited lower long distance depreciation expenses in the latest quarter. The average estimate of analysts polled by Thomson First Call was for earnings of 32 cents per share in the March period on revenue of $6.91 billion.
Stryker Corp. (SYK: news, chart, profile) said first-quarter earnings rose 27%, helped by strong global sales at its orthopedic implants and MedSurg equipment businesses. See full story.
Tellabs (TLAB: news, chart, profile) reported first-quarter earnings of $700,000, or breakeven on a per share basis, down from $13.4 million, or 3 cents a share in the same period a year ago. Excluding non-recurring items, such as restructuring-related charges, earnings would have been 6 cents a share, topping the average analyst estimate compiled by Thomson First Call of 2 cents a share. Revenue rose 65% to $436 million from last year's $264 million, topping analyst forecasts of $408.4 million, boosted acquisitions and double-digit percentage increases in transport, managed access, broadband data and services revenue. The networker's stock closed Tuesday up 40 cents at $7.06.
Teradyne Inc. (TER: news, chart, profile) reported a first-quarter loss of $52.6 million, or 27 cents a share. Last year, it posted earnings of $40.2 million, or 20 cents a share. Revenue for the quarter was $305.6 million vs. $430.6 million. For the second quarter, it forecast a loss of 24 cents to 35 cents a share on revenue of $290 million to $320 million.
United Technologies (UTX: news, chart, profile) earned $651 million, or $1.28 a share, on revenue of $9.4 billion, up from $551 million, or $1.08 a share, on revenue of $8.6 billion a year earlier. The average estimates of analysts polled by Thomson First Call were for earnings of $1.25 and revenue of $9.2 billion. The company said it now expects full year earnings of $5.90 to $6.15 a share and revenue of about $43 billion. The forecast doesn't reflect a previously announced two-for-one stock split that is payable June 10. Analysts were expecting earnings of $6.06 and revenue of $40.3 billion for the year, on average.
Washington Mutual (WM: news, chart, profile) reported first-quarter income fell nearly 14%. See full story.
Wendy's International (WEN: news, chart, profile) shares were downgraded by J.P. Morgan to "neutral" due to valuation.
Wyeth (WYE: news, chart, profile) said first-quarter net income rose to $1.078 billion, or 80 cents a share, from $749.7 million, or 55 cents a share, in the year-earlier quarter. The first quarter included an after-tax charge of $94.6 million, or 7 cents a share related to an upfront payment to Solvay Pharmaceuticals. Revenue for the period climbed 14% to $4.48 billion driven by strong sales of key products Effexor and Enbrel. The results beat the forecast for earnings of 77 cents a share of analysts polled by Thomson First Call. Looking ahead, Wyeth said it sees 2005 earnings at the top end of its $2.70 to $2.80 per share range.
Yahoo! Inc. (YHOO: news, chart, profile) said first-quarter profit more than doubled as its online advertising revenue surged to more than $1 billion for the first time. See full story.
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Michael Baron is a reporter for MarketWatch in New York.
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