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Outlook roundup: Avery Dennison, Biogen Idec



By AP
22 July 2008 @ 10:21 am EST

Among the earnings projection stories for Tuesday, July 22, from AP Financial News:

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AVY 27.03 2.01
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PASADENA, Calif. (AP)--Adhesive label maker Avery Dennison Corp. on Tuesday slashed its 2008 profit expectations "due to a significant increase in inflation expectations coupled with greater economic weakness."

CAMBRIDGE, Mass. (AP)_ Biotechnology company Biogen Idec Inc. raised its full-year profit and revenue outlook Tuesday, citing continued expectations for higher sales of the multiple sclerosis drugs Avonex and Tysabri.

WILMERDING, Pa. (AP)--Railroad equipment supplier Wabtec Corp. on Tuesday raised its full year guidance, based on strong second-quarter earnings.

PASADENA, Calif. (AP)--Construction services provider Jacobs Engineering Group Inc. late Monday boosted its fiscal-year profit guidance, citing strong third-quarter results and a backlog increase.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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