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Martha Stewart Living Omnimedia, struggling with an insider trading scandal that has embroiled its chief executive officer, reported a 42 percent drop in earnings in the third quarter.The results, announced Thursday, met Wall Street s reduced expectations. But the company warned that fourth-quarter earnings would fall far short of analysts expectations.Stewart s multimedia empire, which markets magazines, books and merchan
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stanley mug $2.76 million, or 6 cents per share, for the three months that ended Sept. 30. That compares with $4.77 million, or 10 cents per share, in the same period a year ago.The company said it expects fourth-quarter earnings to be approximately 3 cents per share. Analysts polled by Thomson First Call expected 10 cents per share.Martha Stewart Living s stock has plunged more than 60 percent since early June when news broke that Stewart s name was being linked to an insider trading scandal. In morning trading Thursday, the shares fell an additional 62 cents, or 7.3 percent, to $7.84, a drop of 7.3 percent, on the New York Stock Exchange. Federal investigators are probing whether Stewart had insider knowledge when she sold her shares of ImClone Systems on Dec. 27, the day before the Food and Drug Administration announced it
stanley mugs would deny the biotech company s application to market a promising cancer drug.Stewart, who has maintained her innocence, is a personal friend of ImClone founder Sam Waksal, who plea Jsti Feds Ground 33 Firefighting Planes
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