Amgen (AMGN) will be releasing second quarter 2008 earnings today at 5pm. The EPS consensus for the quarter, is $1.02, which would represent an 8.9% drop from the $1.12 per share earned in the same period last year. The company’s future earnings are trending lower as well . The EPS estimates for the full year 2009 are lower than the 2008 estimates, $4.19 for 2009, compared to $4.29 for 2008.

Amgen (AMGN) investors however are in for a treat on Monday, ahead of the earnings. The stock is up 14% or $7.68 in after hours trading so it should open higher and if the company comes in with great earnings that send the shares higher after hours Monday, it will be a very big day for holders of AMGN shares. The Stock has been moving in an almost straight line upwards since June 11 and have tacked on about ten points, or 23% in that time period.

On Friday, the company announced positive results for its Denosumab drug. According to the company, “Denosumab is the first fully human monoclonal antibody in late stage clinical development that specifically targets RANK Ligand, an essential regulator of osteoclasts (the cells that break down bone). Denosumab is being investigated for its potential to inhibit all stages of osteoclast activity through a targeted mechanism.” In simple english, the drug helps post menopausal women reduce the likelihood of bone fractures that tend to occur because of osteoporosis

Chemed (CHE) is releasing Q2 ‘08 earnings today after the close of the stock market. EPS consensus is $0.69 as compared to $0.77 in the same period last year.

JDA Software Group (JDAS) will release financial results for the second quarter ended June 30, 2008 today at 4pm eastern. Wall Street is expecting $0.37 vs $0.31 in the second quarter 2007.

Home builder Meritage Homes (MTH) will be releasing its 2008 second quarter earnings after the close of markets today. Consensus estimates are for a loss of $0.69, a vast improvement over the $2.16 loss for the second quarter period last year.

The Mosaic Company (MOS) will issue its fourth quarter and fiscal year ‘08 earnings results today, after the close of trading. The company is expected to earn $1.64 vs the $0.46 earned in the same period last year. Full year EPS is expected to come in at $4.24 vs the $0.80 earned last year.

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