Business news with words analysts+billion+continues. 6 news.

NEW YORK (MarketWatch) - Drug maker Merck & Co. on Tuesday backed its 2007 profit target range of $3.08 to $3.14 a share, excluding certain items, and anticipates earning per share, including items, in a range of $1.45 to $1.51. Merck expects 2008 profit in a range of $3.28 to $3.38 a share, excluding certain items and profit including items in a range of $3.96 to $4.06 a share. Analysts, on average, expected it to earn $3.15 a share for 2007 and $3.39 a share for 2008, according to Thomson Financial. Merck continues to expect the initial phase of its cost-cutting program, announced in 2005, to yield cumulative pretax savings of $4.5 billion to $5 billion from 2006 through 2010 and as previously stated, about $2 billion of the total restructuring savings through 2010 will result from the implementation of its manufacturing supply strategy. Merck remains on track to cut 7,000 jobs by the end of 2008. So far, through Sept. 30, about 6,000 positions have been eliminated.

TEL AVIV (MarketWatch) -- American Tower Corp., the Boston developer of broadcast and wireless-communications sites, reported on Wednesday that third-quarter earnings jumped on 10% higher revenue. Earnings reached $59.6 million, or 14 cents a share, from $3.5 million, or 1 cent, in the year-earlier period. Revenue rose to $367.6 million from $333.5 million. A survey of analysts by Thomson Financial produced a consensus estimate of 7 cents of profit on $363 million of revenue. Demand for tower space continues "robust," Chief Executive Jim Taiclet said in a statement. AMT increased its estimate for total revenue in 2007, now pegging the figure at around $1.42 billion. Thomson's survey is looking for $1.44 billion. The company has $477 millon remaining on its stock-buyback plan and expects to complete the plan by the end of February.

CHINESE brokerages will likely see growth enter a "golden period" in the coming two years on the backdrop of a booming stock market and regulatory support to new businesses, industry analysts said. However, domestic securities firms are expected to meet a raft of challenges including moves to lessen dependence on brokering incomes and measures to retain existing clients, insiders noted. The combined brokerage commission income of Chinese mainland stock houses may reach 150 billion yuan (US$20.1 billion) to 170 billion yuan this year, jumping nearly five-fold from a year before, according to estimates by Everbright Securities Co. The cumulative brokering commissions had reached about 137 billion yuan in the first three quarters during which the benchmark stock index in Shanghai more than doubled amid hectic turnover. "The brokerage business will still be the key to shoring up stock firms' bottom line in the next few years," said Wei Quanhui, a Huatai

NEWY YORK (MarketWatch) -- SPX Corp. on Wednesday said third-quarter net income rose to $92.9 million, or $1.75 a share, from a loss of $48.1 million, or 85 cents a share in the year-ago period. Income from continuing operations increased to $1.71 a share from 87 cents a share. Revenue climbed 19% to $1.23 billion from $1.03 billion. Analysts surveyed by Thomson Financial forecast earnings of $1.20 a share and revenue of $1.24 billion, on average. The Charlotte, N.C. manufacturer increased its 2007 profit forecast to $4.70 to $4.80 a share from $4.50 to $4.70 a share. "Our focus on power and energy infrastructure continued to drive strong organic growth in the third quarter, and we are pleased with the solid margin improvement in three of our four segments," the company said. "As expected, our Test and Measurement segment continues to experience difficulties related to the domestic automotive market."

LONDON (MarketWatch) -- Schlumberger Limited said that its third quarter net income rose 35% to $1.35 billion, or $1.09 a share, from $999.8 million, or 81 cents a share, a year ago. Analysts had been expecting the firm to post earnings per share of $1.07 a share, according to data compiled by Thomson Financial. Sales rose to $5.93 billion, from $5.64 billion a year ago. Schlumberger said that growth in the third quarter was driven by international markets particularly Latin America, Russia, China and Indonesia. "Global demand for oil remains strong while non-OPEC production continues to disappoint," the firm said.

LONDON (MarketWatch) -- Continental Airlines said that its third-quarter net income rose 1.7% to $241 million, or $2.15 a share. Excluding a $12 million charge related to pilot pension plan settlements, net income rose 73% to $253 million, or $2.25 a share. Analysts had been expecting the airline to report earnings of $2.17 a share, according to data compiled by Thomson Financial. "The high cost of fuel continues to pose challenges for us, but we'll keep working those costs we can control," said Jeff Misner, the firm's chief financial officer. Continental also said that it's close to signing supplier cost reduction agreements that are expected to lead to cost savings of around $100 million a year. Operating revenue rose 8.6% to $3.8 billion, after strong international growth, the firm added.