Genentech quarterly earnings surge 41%

4:30 pm ET Jul 11, 2007

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Genentech quarterly earnings surge 41%

SAN FRANCISCO
Genentech Inc. late Wednesday said its second-quarter profit rose 41%
over the same quarter last year, and the biotechnology giant lifted its
profit forecast for the full-year period.

Stocks rise as earnings hopes offset subprime woes

NEW YORK
U.S. stocks rose on Wednesday, bouncing back from a sell-off in the
previous session, as hopes for a strong second-quarter earnings season
helped offset concerns that the meltdown in the subprime mortgage market
will spill over to other areas.