Lilly stock slips after analyst downgrade
The price of Eli Lilly and Co.’s stock veered lower this morning after a Goldman Sachs analyst downgraded her rating from
neutral to sell.
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High-ranking WellPoint exec stepping down
WellPoint Inc.’s internal audit and chief compliance officer – and highest-ranking black executive – will leave the company
later this month, according to a companywide e-mail sent out yesterday.
Celadon manages profit amid tough conditions
Indianapolis-based Celadon Inc. said yesterday that it eked out a small profit in its fiscal fourth quarter, as the struggling
economy continues to batter the trucking industry.
Lilly drops osteoporosis pipeline drug
Eli Lilly and Co. pulled the plug on yet another drug in its pipeline that was in the late stages of testing, further complicating
the company’s attempts to find revenue before losing patent protection on its bestseller.
Biglari consolidates power, as Steak n Shake rebounds
The Texas investor running the chain doesn’t seem like such a champion of transparency these days.
PROXY CORNER: Franklin Electric Co. Inc.
Bluffton-based Franklin Electric Co. Inc. designs, manufactures and distributes electric motors, electronic
motor controls and related equipment. For the quarter ended July 4, the company reported net income of
$5.8 million, or 25 cents per diluted share, on $165.3 million in revenue. That compares with net income
of $15.3 million, or 66 cents per diluted share, on $201.7 million in revenue for
the the same period a year ago.
Furniture maker trims losses in second quarter
West Lafayette furniture maker Chromcraft Revington Inc. narrowed its losses in the second quarter by shedding unprofitable
products, closing plants and reducing expenses, the company said yesterday.
Lilly pays $224,000 to area doctors
It’s no secret that Eli Lilly and Co. is the biggest private employer in the Indianapolis area. But
Lilly also supplemented the incomes of a few dozen local doctors — to the tune of more than $224,000 in just the first
quarter.
Noble Roman’s profit up, revenue down
Noble Roman’s Inc. late yesterday reported a larger profit in the second quarter, primarily due to its continuing efforts
to cut expenses by replacing company-owned restaurants with franchises.
Steak n Shake posts profit, rise in customer traffic
Steak n Shake Co. late yesterday reported strong profit and big increases in customer traffic and same-store sales for its
fiscal third quarter, which ended July 1.
Hill-Rom profit drops, beat expectations
Hill-Rom Holdings Inc. topped analysts’ expectations in its fiscal third
quarter even as hospital-spending cuts clipped its revenue by 9 percent, the company announced late yesterday.
Finish Line execs sell shares en masse in recent months
Top executives at The Finish Line Inc. cashed in stock worth more than $10 million in recent months. They sold many of
the shares in July as the locally based athletic retailer saw its stock rise to a high for 2009 of about $9.
Large HHGregg investor ups stake, surprising analysts
HHGregg Inc. shares have enjoyed a spectacular runup this year. But the company’s biggest shareholder is making a
huge bet that the good times are only beginning.
Brightpoint profit slips, but beats expectations
Wireless device distributor Brightpoint Inc. said yesterday that profit and revenue fell in the second quarter because it
sold fewer of the devices, and at lower prices.
Accuride warns of bankruptcy, reports loss
Evansville-based truck parts maker Accuride Corp., one of the state’s largest companies, warned
today in its quarterly financial report that the company might seek bankruptcy protection if lenders refuse to restructure
its debt.
First Merchants posts larger loss on fraud charge
Muncie-based First Merchants Corp. disclosed this week that the bank lost $31.2 million in the
second quarter, including $10.2 million it blamed on fraudulent financial statements provided by a large commercial borrower.
Irwin Financial narrows losses, continues restructuring
Irwin Financial Corp. narrowed its losses in the second quarter, as the company continued to restructure or face the possible
suspension of its business.
Calumet Specialty suffers loss on falling sales
Calumet Specialty Products Partners L.P. this morning reported a loss of $26 million in the second
quarter due to high crude oil prices and flagging product demand.
Conseco profit at high end of estimates
Conseco Inc. recorded profit at the high-end of its preliminary
estimates, the company announced today.
Lilly offering buyouts to 4,000 sales reps
Indianapolis-based Eli Lilly and Co. today said it is offering buyouts to its U.S. sales force,
with hopes of trimming about 300 sales representatives before a sales restructuring set to begin in January, Reuters reported.