Johnson & Johnson on Tuesday reported a 12 percent gain in third-quarter net income and indicated it might seek a better purchase price for Guidant Corp.
The New Brunswick, N.J.-based company earned $2.63 billion, or 87 cents a share, topping estimates by 1 cent. Revenue rose 7 percent, to $12.31 billion. A year ago, the company earned $2.34 billion, or 78 cents a share.
Johnson & Johnson said it is considering its “alternatives” for the deal struck in December to buy Guidant for $25.4 billion. Indianapolis-based Guidant recalled 109,000 implantable defibrillators in June because of potential electrical failures
Shares of Johnson & Johnson lost 3 cents, to $62.97, on the New York Stock Exchange.
In other earnings news:
Continental Airlines Inc. posted third-quarter net income of $61 million, or 80 cents a share, after it raised fares to compensate for higher jet-fuel prices. A year ago, the Houston-based carrier lost $18 million, or 29 cents a share. Excluding items, Continental earned 83 cents a share, easily beating estimates of 27 cents. Revenue rose 15 percent, to $3 billion.
The report came out after the close of trading.
Intel Corp. said third-quarter profit was little changed. The Santa Clara, Calif.-based company reported net income of $2 billion, or 32 cents a share, missing estimates by 1 cent. Sales jumped 18 percent, to $9.96 billion. A year ago, Intel earned $1.91 billion, or 30 cents a share.
The report came out after the close of trading.
Yahoo Inc. posted third-quarter net income of $253.8 million, or 17 cents a share, compared with $253.3 million, or 17 cents a share, a year earlier. Excluding items, the Sunnyvale, Calif.-based company earned 16 cents a share, beating estimates of 14 cents. Sales rose 47 percent, to $1.33 billion.
The report came out after the close of trading.
3M Co. reported a 10 percent increase in third-quarter net income, to $853 million, or $1.10 a share, from $775 million, or 97 cents a share, a year earlier. Excluding items, the Maplewood, Minn.-based company earned $1.12 a share to top estimates by 4 cents. Sales increased 8 percent, to $5.38 billion
3M stock gained $2.24, to $74.71, in NYSE trading.
Corn Products International Inc. said third-quarter net income fell to $23.1 million, or 31 cents a share, from $24 million, or 32 cents a share, in the year-ago period. The Westchester-based company still beat estimates of 26 cents. It said sales rose 4 percent, to $612 million.
Shares of Corn Products climbed $2.01, or nearly 10 percent, to $22.50, in NYSE trading.
