Schering-Plough Sinks

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Schering-Plough (SGP ) sees second-half earnings per share lower than first-half levels, and sees 2004 earnings per share lower than 2003. The drugmaker will cut the 17 cents quarterly dividend to 55 cents. Also, Schering will eliminate bonuses, halt a staff profit-sharing payout, and reduce staff by more than 1,000. CIBC World downgraded.

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