Walgreen Co. (
WAG: chart), a drugstore chain in the U.S., said July same-store sales jumped 10 percent, boosted by higher demand for non-pharmacy merchandise, such as food, cosmetics and photo-finishing services.
Same-store pharmacy sales jumped 13.5 percent, while July pharmacy sales increased 16.9 percent. Non-pharmacy, or front-end sales, rose 3.9 percent.
Total sales for the month rose 13.7 percent to $2.75 billion compared with the same period a year earlier.
Walgreen shares closed up 3.1 percent at $30.32 on Monday.
German pharmaceutical company
Altana AG (
AAA: chart) said pre-tax profits in the first half of 2003 increased 25 percent to 329 million euros ($373.94 million), due to higher sales of its gastrointestinal drug, Pantoprazole. Revenues climbed seven percent to 1.36 billion euros ($1.55 billion).
MetLife Inc. (
MET: chart), a New York-based insurer, reported net income of 84 cents a share in the second quarter, up from 53 cents in the same period last year. Revenue surged 8.3 percent to $8.9 billion, helped by narrower investment losses.
Credit Suisse Group (
CSR: chart), Switzerland's second-largest bank by assets, reported a second straight quarterly profit due to cost cuts and gains in investment banking revenue. Net income was 1.3 billion Swiss francs ($960 million), or 1.09 francs a share, compared with a loss of 579 million francs, or 49 centimes, in the same period a year ago.
Principal Financial Group Inc (
PFG: chart) based in Des Moines, Iowa, said its second quarter net income rose 68 percent to 62 cents a share from 34 cents a share in the same period last year, due to strong results from its mortgage banking business. Revenue increased 3.3 percent to $2.4 billion.
HSBC Holdings Plc (
HBC: chart), Europe's largest bank based in London, said profits in the first half of the year rose 21 percent, boosted by the acquisitions of Household International and Mexican bank Financiero Bital, and improved cost controls. Pre-tax profits came in $6.11 billion, up from in $5.06 billion in the same period last year. Revenue rose 37 percent to $18.5 billion.
Health Net Inc. (
HNT: chart), a major provider of health plans for the U.S. military, said second-quarter profit climbed to 63 cents a share from 51 cents a share in the year-ago quarter, due to raised premiums. The Los Angles, California company’s revenue rose 10 percent to $2.7 billion, boosted by increased revenue from government contracts.
Orbotech Ltd (
ORBK: chart), an electronics manufacturer based in Israel, had its second straight profitable quarter amid growth in service revenue and sales of equipment related to assembled printed circuit board. Net income in the second quarter was $1.2 million, or 4 cents a share, flat with the year-ago results. Revenue rose 0.7 percent to $54.6 million.
Norway’s
Frontline Ltd (
FRO: chart), the world’s largest tanker company based in Bermuda, reported profit of $2.04 a share in the second quarter, compared with a loss of 39 cents a share in the same quarter last year. First Call analysts had expected a profit of $1.56 a share on average. Net operating revenue jumped 162 percent to $229 million.
United States Steel Corp. (
X: chart), the largest U.S. steel producer, said net loss in the second quarter was 51 cents a share, compared with 28 cents in the year-ago period. The Pittsburgh-based company was hurt by high pension and health-care costs. Revenue rose more than 30 percent to $2.36 billion due to National Steel’s acquisition.