GlaxoSmithKline plc (ADR) (NYSE:GSK) reported Q3 earnings in which sales fell 10% but EPS exceeded estimates, and announced a cost savings plan, as revenues from its flagship respiratory drug Advair continued an extended decline. The drug maker also said it was considering a spin-off of its ViiV Healthcare business in a bid to achieve stronger financial results going forward. Glaxo's sales dropped to 5.65 billion pounds, or $9.06 billion, during the quarter. Analysts surveyed on Capital IQ expected sales of 5.8 billion pounds.GlaxoSmithKline plc (ADR) (NYSE:GSK) said its core measure of EPS, which strip out divestments, was roughly flat with the Q3 2013 results, at 27.9 pence, higher than the 24-pence estimate from analysts, according to Dow Jones. No analyst estimates on EPS from Capital IQ were available. Q3 net profit attributable to shareholders dropped to 401 million pounds, from 969 million pounds in the year-ago period, partly as a result of divestments. Glaxo said it would maintain its 6% dividend yield at current levels, and expects to maintain its 2015 payout at 2014 levels.Sunedison Inc (NYSE:SUNE) said it was awarded 17.7 megawatts of distributed solar photovoltaic power projects in California. The company said it will work with nine different public agencies in Alameda, Contra Costa and San Mateo, California to install solar systems at 30 individual locations. The project represents one of the largest ever public solar power procurements in the U.S. Sunedison Inc (NYSE:SUNE) said construction will begin on the sites at the end of 2014 and should be completed by the end of 2015.Separately, Greenlight Capital's David Einhorn recommended the energy solutions firm as a long at the Robin Hood Investors conference, saying that the shares are not priced correctly at the moment and that the best way to value the firm is the sum of its parts, which is equal to about $32 a share, StreetInsider reported. SUNE shares are moving within a 52-week range of $8.91-$24.35.Boulder Brands Inc (NASDAQ:BDBD) announced preliminary Q3 results and forecasts for Q4 that are well below analyst's estimates. The maker of gluten-free products said that Q3 revenue is now expected at $134 million compared to the Capital IQ consensus estimate of $142 million. For the same quarter of 2013, Boulder Brands Inc (NASDAQ:BDBD) reported sales of $119 million. Q3 non-GAAP earnings has been lowered to $0.08 per share, down from prior guidance of $0.10 to $0.12 per share and below Cap IQ estimates of $0.11 per share.For Q4, BDBD is expecting net sales of $132 million to $137 million versus the Cap IQ estimate of $151 million. Non-GAAP earnings for the fourth-quarter are now projected at $0.04 to $0.06 compared to their prior guidance of $0.18 to $0.20. The consensus estimate called for earnings of $0.18 per share. In addition, the company expects preliminary estimated non-cash goodwill and trade name impairment charges aggregating $147.5 million relating to the Smart Balance business, of which a significant portion will not be tax deductible.
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