Jim Cramer Blog

Omnicare (NYSE:OCR - News) shares dropped 11% after the company said it earned $52.2 million, or 43 cents a share, in the third quarter, down from $58.5 million, or 54 cents a share, in the same period a year ago. The Covington, Ky. healthcare company said excluding special items, it earned 63 cents a share in the quarter. Sales rose to $1.59 billion from $1.46 billion. The average estimate of analysts polled by Thomson First Call was for earnings of 72 cents a share on revenue of $1.67 billion. The company said earnings were hurt by the "challenging" environment in which it is operating and forecast that fourth-quarter earnings would be roughly equivalent to the third-quarter figure.