Amgen beats Street, raises guidance

Amgen Inc. (NASDAQ:AMGN) reported 3Q09 adjusted diluted EPS of $1.49, beating by $0.22 the Street's estimate of $1.27 and up 21% from $1.23 in 3Q08. Amgen said its EPS benefited from lower operating expenses, a decreased tax rate and decreased shares resulting from stock buybacks. Third quarter revenues were down 2% to $3.8 billion from $3.9 billion in 3Q08. Amgen raised its 2009 adjusted EPS guidance to $4.90-$5.05 from $4.80-$4.95 and reaffirmed that 2009 revenues are trending towards the upper end of the company's guidance range of $14.4-$14.8 billion. ...