Bristol-Myers Squibb Co. posted a slight decline in third-quarter profit Tuesday as its restrained spending was offset by flat sales of its drugs, lower income from its partners and bigger discounts to government because of the health care overhaul.
Inside these posts: Discounts
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Slowdown hits Penney harder than most retailers in 2Q
J.C. Penney Co. forecast a full-year profit below Wall Street expectations and stoked concerns that it may need further discounts to clear merchandise built up last quarter, sending its shares lower.
Penney said its shoppers, who tend to have a lower household income and are more likely to turn to discount chains and dollar stores when budgets are tight, were vulnerable to weak economic conditions. Get the full story »
