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We expect this to fade in the third quarter with investor focus returning to the strong underlying business performance and fully intact investment case.
In a presentation to investors, East said the Derby-based company had a strong underlying business but he promised a review of its operations, improved disclosure to investors, and a simpler business that would let engineers get on with their jobs.
"Centrica may face further turbulence in the commodity markets, but the results of 2005 clearly show a strong underlying business, he said.
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Those with sound balance sheets and strong underlying businesses.
Standard & Poor's analysts Scott Sprinzen and Diane Hinton affirmed their AA-/A-1+ rating for Goldman Sachs Group and A+/A-1 rating for Lehman Brothers Holdings, pointing to strong underlying businesses and acceptable first-quarter earnings.
"This points to a very solid underlying business performance".
"Traders can forget just how valuable a firm's underlying business really is," he writes.
"We have had a strong underlying growth in small business that's reflective of the entrepreneurial work force that we have here," Mr. Blake said.
"While we had strong underlying performance across the businesses, unfortunately, the quarter was marred by large legal expense," Jamie Dimon, the bank's chief executive, said in a statement.
But Roche executives said the company's underlying business was strong and that a variety of projects in its development pipeline promised to give the company double-digit revenue growth this year.
He stressed that the bank's underlying business was strong.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com