ADVFN - Advanced Financial Network.
HOME» NASDAQ » A » AMLN Stock Price » AMLN Stock News

Amylin Pharmaceuticals Share News

 Amylin Pharmaceuticals (mm) Stock Price
AMLN Stock Price
 Amylin Pharmaceuticals (mm) Stock Chart
AMLN Stock Chart
 Amylin Pharmaceuticals (mm) Stock News
AMLN Stock News
 Amylin Pharmaceuticals (mm) Company Information
AMLN Company Information
 Amylin Pharmaceuticals (mm) Stock Trades
AMLN Stock Trades

Evercore 2nd-Quarter Profit Climbs 19% On Higher Investment Banking Revenue

By Brett Philbin Boutique advisory firm Evercore Partners Inc. (EVR) posted a 19% rise in second-quarter earnings as the company benefited from a string of deal closings despite a tough market environment. Adjusted revenue in investment banking jumped 35% to $151.4 million from $111.8 million a year earlier. Year-to-date, Evercore has advised on notable transactions including Bristol-Myers Squibb Co.'s (BMY) $7 billion bid to buy Amylin Pharmaceuticals Inc. (AMLN) and InterDigital Inc.'s (IDCC) pending sale of $375 million in patent and patent applications to Intel Corp. (INTC). Evercore's advisory business participated in 30 transactions that generated fees in excess of $1 million each, said Chief Executive Ralph Schlosstein in a statement. The performance was the firm's highest quarterly total to date and fueled the jump in investment banking revenue. "Despite a quite challenging market environment, we are pleased with our results," Mr. Schlosstein said on a conference call with analysts. Mr. Schlosstein said that he believed Evercore's "strong performance in revenue" in the first half of the year is sustainable for the remainder of the year if markets aren't terribly disrupted by the European debt crisis, adding that "our business today looks promising, but the rest of the world has clouds over it." Evercore's results buck the quarterly trend in investment banking, where firms big and small have grappled with lackluster demand for mergers and acquisitions and other advisory services amid persistent concerns about Europe's debt woes and the strength of the global economy. Evercore is part of a group of independent advisers that includes Lazard Ltd. (LAZ) and Greenhill & Co. (GHL), which offer advisory services and don't lend or sell stocks, bonds or other financial products. The structure eliminates conflicts of interest that can sometimes be present at bigger banks. The results indicate Evercore is continuing to "grow and gain market share," Mr. Schlosstein said. Evercore's adjusted net income from continuing operations--the figure that analysts typically use to evaluate the company--rose to $21.2 million, or 49 cents a share, up from $17.8 million, or 43 cents a share, a year ago. Revenue climbed 23% to $172.1 million. Analysts polled by Thomson Reuters had expected, on average, adjusted earnings of 48 cents on revenue of $163 million. In a note to clients, JMP Securities analysts David Trone wrote that Evercore's "results likely alleviated concerns," particularly after Greenhill missed earnings expectations last week. Shares of Evercore, which was founded by former Deputy U.S. Treasury Secretary Roger Altman, rose 1.5% Thursday to $21.27. The stock has fallen 20% year-to-date and 31% over the past 12 months. Write to Brett Philbin at Subscribe to WSJ:

Stock News for Amylin Pharmaceuticals (AMLN)
08/09/201208:24:09AstraZeneca: Bristol-Myers Squibb Completes Purchase of Amylin
08/02/201212:30:06Bristol-Myers Executive Charged With Insider Trading
08/02/201212:17:26U.S. Charges Bristol-Myers Executive With Insider Trading
08/02/201211:07:11Bristol-Myers Pension Executive Robert Ramnarine Arrested for...
07/26/201210:24:24Evercore 2nd-Quarter Profit Climbs 19% On Higher Investment Banking...
07/25/201208:20:16Bristol-Myers Profit Falls 28%
07/25/201208:00:01Bristol-Myers 2nd-Quarter Profit Falls 28% on Drug-Patent Expirations
07/02/201211:53:36Bristol Sees Commercial Muscle Accelerating Sales of Bydureon
06/29/201223:36:26Bristol-Myers to Buy Amylin Pharmaceuticals for $5.3 Billion
06/10/201220:35:15Novo Nordisk's Victoza More Efficient Than Peers In New Study
06/09/201208:30:11Sanofi's Lantus Cuts Blood Sugar More Than Merck's Januvia in...
06/05/201209:10:47Amylin is Said To Draw First-Round Bids of Up to $29/Share -Bloomberg
04/25/201214:53:05Icahn: Suit Against Amylin Dropped After Talks With CEO
04/19/201213:53:31FDA Is Asked To Remove Novo Nordisk Diabetes Drug From Market
04/09/201213:08:09Icahn Files Lawsuit Against Amylin To Force Nomination Extension
03/28/201210:08:30Amylin Has Rejected $3.5 Billion Buyout Bid By Bristol-Myers...
03/23/201209:08:11Amylin: EU Approves Diabetes Treatment Byetta With Basal Insulin
01/30/201217:42:15US Stocks Edge Lower As Europe's Debt Flashpoints Weigh
01/30/201208:02:33US Stock Futures Lower On Renewed Worries Over Greece
01/27/201216:12:26FDA Approves Amylin's Bydureon Diabetes Drug After Delays

Amylin Pharmaceuticals and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations