Verizon Communications Inc. (NYSE:VZ) CEO Lowell McAdam stated: “In Q3, Verizon continued to deliver double-digit earnings growth and strong cash generation, and we remain solidly on track to meet our financial objectives for the year. With our 4G LTE network advantage, well-received Share Everything Plans and unmatched product portfolio, Verizon Wireless continues to do an outstanding job of balancing growth and profitability. Wireless achieved record profitability in a quarter in which we reported the highest number of retail postpaid gross and net adds in four years. Based on the strength of our FiOS fiber-optic network, we reported the highest growth in U.S. consumer wireline revenues in 10 years. Additionally, strategic services growth in our Enterprise business helped offset weaker revenues caused by global economic challenges. We are confident that we have the right plans in place to meet these challenges while improving the long-term profitability in both Consumer and Enterprise.”
Molycorp, Inc. (NYSE:MCP) showed impressive relative strength via a 2 percent gain today. The area comprehended between 11.4 and 11.5 represents a strong resistance. The strenght of the move yesterday points toward an upward breakout possibly impulsing MCP’s stock to test the September highs at 14.44. Tuesday, MACD made a bullish crossover and Slow Stochastic has begun to rise indicating that investors are bullish on this stock.
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Abbott Laboratories (NYSE:ABT) revealed via a regulatory filing that, on October 17, Reata Pharmaceuticals informed Abbott that it has decided to discontinue the Phase 3 clinical study, called BEACON, which has been designed to evaluate bardoxolone methyl in patients diagnosed with advanced chronic kidney disease and type 2 diabetes. The discontinuation is due to a recommendation from the study’s Independent Data Monitoring Committee about safety concerns resulting from excess serious adverse events and mortality in the bardoxolone methyl arm. Regulatory agencies were notified of this decision, and study sites and study participants are now being informed, Abbott said. Reata and Abbott are to closely examine the data from this study to make a decision whether there is an appropriate path forward to develop bardoxolone methyl in chronic kidney disease or other indications, states Abbott. Abbott noted it has the rights to bardoxolone methyl outside the U.S., excluding certain Asian markets.
SodaStream International Ltd. (NASDAQ:SODA) products will be available in Russia, Chile, and Singapore via new exclusive partnerships. In Russia, SodaStream is to be distributed by Bureaucrat. The company will launch nationwide at Media Mart as soon as Q1. In Chile, Volta, part of Eurofarma Brazil, will distribute the company’s products. Volta will first released the product to the three top retailers, Falabella, CencoSud, and Ripley, which own a variety of department stores, supermarkets, home centers and a TV home shopping network. In Singapore, the company is to team together with Yeo Teck Seng, and it will be available beginning on December at Singapore’s premium retailer, Takashimaya.
Microsoft Corporation (NASDAQ:MSFT) Net income for the computer software fell to $4.47 billion (53 cents per share) vs. $5.74 billion (68 cents per share) a year earlier. This is a decline of 22.2% from the year-earlier quarter. Microsoft Corporation fell short of the mean analyst estimate of 65 cents per share.
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