Earnings roundup: St Jude Medical, Amphenol
Among the earnings stories for Wednesday, Oct. 17, from The Associated Press:
— Medical device maker St. Jude Medical Inc. reported third-quarter earnings that beat expectations, though company shares slumped as the executives warned that the company could receive a regulatory warning over a California manufacturing plant.
— Amphenol, which makes fiber optic cables, said its third-quarter net income climbed 10 percent, driven by strength across a variety of markets.
— Television and digital media company Media General Inc. said its third-quarter net loss widened because of higher expenses, but revenue grew sharply thanks to an increase in political advertising and the Olympics.
— Dover Corp.'s third-quarter net income rose 40 percent, helped by acquisitions and by the absence of a big loss tied to discontinued operations from a year ago. But CEO Robert Livingston said the company faces challenges in the handset and electronics markets, along with uncertainty in the global economy, and the manufacturer cut its forecast for the year.