Forest Labs Earnings, Guidance Beat Street; Stock Up
Drugmaker Forest Laboratories (FRX) beat fiscal Q3 expectations and raised its guidance Tuesday, sending the stock to a 10-year high on the stock market today. Forest said profit in the quarter ended Dec. 31, excluding one-time items, was 27 cents a share, reversing a year-earlier loss and beating analysts’ consensus by 23 cents. Sales rose 22% to $878 million, topping estimates by more than $50 million. The company said it now expects EPS for