Earnings roundup: JPMorgan, Abbott Labs

Earnings roundup: Investment banking propels JPMorgan 3Q profit, Abbott Labs sales grow

• On 10:11 am EDT, Wednesday October 14, 2009

Among the earnings stories for Wednesday, Oct. 14, from AP Financial News:

Top stories:

NEW YORK (AP) -- JPMorgan Chase & Co. reported strong third-quarter earnings as its thriving investment banking business more than offset rising loan losses that the bank warned would continue for the forseeable future.

Other stories:

NORTH CHICAGO, Ill. (AP) -- Abbott Laboratories says it beat its own expectations in the third quarter as sales of its drug Humira continued to climb, as did sales of medical products and nutritional products for children.

LUFKIN, Texas (AP) -- Lufkin Industries Inc. said Wednesday its third-quarter profit tumbled 80 percent as the oil field pump supplier's revenue plunged and expenses edged higher.

BETHESDA, Md. (AP) -- Host Hotels & Resorts Inc. said Wednesday that its third-quarter funds from operations declined, weighed down by an interest expense and impairment charges as revenue, occupancy and room rates continued to slip.