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Biotech drugmaker Amgen misses 1Q expectations as higher production, research costs cut profit

Despite higher sales, biotech drugmaker Amgen's first-quarter profit fell 25 per cent as production and research costs rose sharply. Last year's quarter also gained from a tax benefit. The company missed Wall Street's expectations for both earnings per share and revenue, sending down its shares. The maker of injected osteoporosis treatment Prolia said Tuesday that net income was $1.07 billion, or $1.40 per share, down from $1.43 billion, or $1.88 per share, in 2013's first quarter.

AT&T had strong 1st quarter on appeal of wireless installments plans

NEW YORK, N.Y. - AT Although customers in the installment plan, called Next, aren't locked into traditional two-year service contracts, they pay the entire cost of phones in installments. As a result, AT The company's first-quarter net income was $3.7 billion, or 70 cents per share, compared with $3.7 billion, or 67 cents, a year earlier, when AT Revenue grew 4 per cent to $32.5 billion, better than the $32.4 billion analysts expected, according to FactSet. Nonetheless, AT AT

Harley-Davidson 1Q earnings jump 18.7 per cent as motorcycle sales rise, efficiencies take hold

MILWAUKEE - Harley-Davidson reported an 18.7 per cent rise in first-quarter earnings, saying motorcycle sales grew 5.8 per cent worldwide and efficiency efforts took hold during the quarter. The results beat Wall Street estimates and its shares rose nearly 7 per cent. The company posted net income of $265.9 million on Tuesday, up from $224.1 million a year ago. That's $1.21 per share, compared with 99 cents in the first quarter of 2013. Analysts polled by FactSet expected earnings of $1.07 per share.

Correction: Aaron's-Vintage Capital

NEW YORK, N.Y. - In a story April 17 about Vintage Capital withdrawing an offer to buy retailer Aaron's, The Associated Press reported erroneously the relationship between Vintage and Aaron's. Vintage does not franchise Aaron's stores. A corrected version of the story is below: Vintage Capital withdraws $2.2B offer for Aaron's Vintage Capital pulls $2.2B offer for Aaron's, citing weak earnings and latest acquisition

Girl Power: Hasbro returns to 1st-quarter profit as sales of girls' toys strengthen

PAWTUCKET, R.I. - Hasbro returned to profitability in its first quarter, driven by sales of girls' toys such as My Little Pony and Nerf Rebelle. The prior-year results were dragged down by restructuring charges. Its latest earnings topped Wall Street estimates but revenue was short of what analysts expected. Toy makers are facing a weak environment globally due to the uncertain economy and popularity of electronic gadgets. The first quarter is the seasonally smallest for toy makers, coming after the key holiday quarter which can account for up to 40 per cent of revenue.

Higher spending by cardholders helps lift American Express' 1Q revenue and profit

NEW YORK, N.Y. - American Express said Wednesday its net income climbed in the first quarter, helped by higher spending by its cardholders even as cold winter weather gripped much of the country. The New York-based company said its cardholders spent 6 per cent more in the first three months of the year, driving up revenue for both its U.S. and international card businesses. "While consumers remain cautious about taking on additional debt, we continued to see a modest increase in card member loan balances," AmEx CEO Kenneth Chenault said.

Lender Capital One Financial says its quarterly profit edged up even as income declined

MCLEAN, Va. - Capital One Financial Corp. says its first-quarter profit edged up, even as income it receives from lending slipped. After the market closed Wednesday, McLean, Va.-based Capital One reported net income of $1.14 billion, or $1.96 per share, for the three months ending March 31. That compares with net income of $1.04 billion, or $1.77 per share, in the same period of 2013. Revenue dipped 3 per cent to $5.37 billion from $5.55 billion. On average, analysts expected earnings of $1.69 per share on $5.45 billion in revenue, according to the data provider FactSet.

TSX slightly higher on China growth worries, escalating Russia/Ukraine tensions

TORONTO - The Toronto stock market closed with a small gain Tuesday amid concerns about China's growth and worsening tensions between Ukraine and Russia. The S The Canadian dollar was down 0.2 of a cent to 91.1 cents US a day ahead of the Bank of Canada's latest interest rate announcement. It is universally expected that the bank won't hike its key rate from one per cent, where it has been since September, 2010.

Family Dollar to cut jobs, close about 370 stores as it tries to improve financial performance

MATTHEWS, N.C. - Family Dollar plans to cut some jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. The discount store operator will also lower prices on about 1,000 basic items. Family Dollar did not provide details on how many jobs were expected to be eliminated. The chain said the store closings and job cuts should reduce annual operating expenses by $40 million to $45 million, starting with the fiscal third quarter. Family Dollar Stores Inc. currently has more than 8,100 stores in 46 states.

Tiffany sales sparkle in key holiday season, but hefty charges leads to 4Q loss, glum outlook

NEW YORK, N.Y. - Tiffany Even without the charge, its adjusted earnings missed Wall Street expectations. Its forecast for this year also was short of expectations. Tiffany's shares fell more than 3 per cent in Friday premarket trading. For the three months ended Jan. 31, the luxury jewelry company — known for its little blue boxes — lost $103.6 million, or 81 cents per share. A year earlier it earned $179.6 million, or $1.40 per share.
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