Abbott Laboratories (NYSE:ABT), drug and medical device maker declared on Wednesday that it has higher Q3 profit, topping analyst anticipations, even as revenue plunged. The firm, which is in the process of following-up several of its businesses, also eliminating 550 employees worldwide and declared it aims to cut several hundred additional positions coming year.
Adelle Infante, Spokeswoman disclosed that the jobs cut were in Abbott's nutrition, medical devices, established pharmaceuticals and molecular diagnostics divisions.
The firm recorded a $478M pretax restructuring charge through the quarter for costs tied to before job reduces and those expected for 2013.
In January Abbott declared that it would cut 700 jobs as part of its ongoing restructuring efforts. At that time the firm declared that most of those jobs cuts would impact employees who complete its heart stents and diagnostic tests.
Peregrine Pharmaceuticals (NASDAQ:PPHM) climbed +24.29% to close at $0.870 with the total traded volume of 12.16 million shares with the average volume of 13.33 million. Its shares were trading within the range of $0.83- $0.94 while its opening price was $0.92. Its market capitalization is $90.65 billion. Its stock price 52 weeks low was $0.39 and 52 weeks high price was $5.50. Peregrine Pharmaceuticals, Inc. (Peregrine) is a biopharmaceutical company developing monoclonal antibodies for the treatment and diagnosis of cancer.
InterMune, Inc. (NASDAQ:ITMN) has the revenue of $33.42 million with the revenue per share of $0.53. Its stock has the gross profit of $16.92 million.
ITMN has the beta of 5.38 and its S&P500 52-week change was recorded 20.20%. The company has total of 65.74 million outstanding shares as compares to 50.36 million shares that were floated in the market. Stock was held 5.81% by insiders and its 106.80% ownership was held by institutions.
Gilead Sciences, Inc. (NASDAQ:GILD) reported the gain of +1.73% and closed at $69.56 with the total traded volume of 5.17 million shares. Its price to sales ratio ended at 5.84 and its price to cash per share was $30.82. Its market capitalization is $52.63 billion. The stock owned by the Financial Institutions was 92.24% while by insiders was 0.58%. Gilead Sciences, Inc. (Gilead) is a research-based biopharmaceutical company that discovers, develops and commercializes medicines.
Amgen, Inc. (NASDAQ:AMGN) stock reported the gain of +1.32% and closed at $89.20 with the total traded volume of 4.38 million shares. Its price to earnings ratio ended at 19.10 and its earnings per share was $4.67. Its market capitalization is $68.75 billion. The stock owned by the Financial Institutions was 80.01% while by insiders was 0.14%. Amgen Inc. (Amgen) is a biotechnology medicines company. The Company discovers, develops, manufactures and markets medicines for illnesses.
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