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Stock Market & Financial Investment News

News Breaks
November 26, 2012
10:23 EDTBSX, STJ, MDTBoston Scientific rises after Citi sees Durata coming off market
Boston Scientific (BSX) is climbing after Citigroup analyst Matthew Dodds upgraded the stock to Buy from Neutral in a note to investors earlier today. Durata cables made by St. Jude (STJ), a Boston Scientific competitor, will likely be taken off the market within six months, Dodds believes. Earlier this year a study found that Durata cables can fray when they rub against another object. Boston Scientific will benefit significantly from the withdrawal of St. Jude's cables, which are used to connect defibrillators to the heart, Dodds wrote. If Durata cables are removed from the market, Boston Scientific would obtain 41% of the $338M in revenue that St. Jude would lose, the analyst predicted. Medtronic (MDT) will garner 29% of St. Jude's lost sales, adds Dodds. The analyst increased his price target on Boston Scientific to $7.30 from $5.30. In mid-morning trading, Boston Scientific climbed 19c, or 3.40%, to $5.78, while St. Jude fell 35c, or 1.09%, to $31.68.
News For BSX;STJ;MDT From The Last 14 Days
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July 16, 2014
08:32 EDTSTJSt. Jude Medical sees revenue growth rate accelerating in 2H
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08:18 EDTSTJ St. Jude Medical sees total Q3 CRM sales $660M-$690M
Sees total FY14 CRM sales $2.81B-$2.85B. Sees Q3 AF product sales $240M-$260M, FY14 AF product sales $1.3B-$1.6B. Sees Q3 cardiovascular product sales $315M-$335M, FY14 cardiovacular product sales $1.36B-$1.39B. Sees Q3 neuromodulation product sales $100M-$110M, sees FY14 neuromodulation product sales $440M-$460M. Sees $15M-$20M related to CardioMEMS product line. Says assumes R&D tax credit will be extended for 2014. Says expects to add $10M-$15M in sales related to NeuroTherm product line in 2014, sees acquisition neutral to EPS in 2014. Sees FY14 gross profit margin 71.5%-72%. Still sees FY14 SG&A as a percentage of net sales to be 33.5%-34%. Sees FY14 effective tax rate 18%-18.5%. Comments made on the Q2 earnings conference call.
07:59 EDTMDTTreasury Secretary urges Congress to take action on tax inversions
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07:34 EDTSTJSt. Jude Medical raises FY14 adjusted EPS view to $3.96-$4.01 from $3.95-$4.00
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07:32 EDTSTJSt. Jude Medical sees Q3 adjusted EPS 95c-97c, consensus 96c
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07:32 EDTSTJSt. Jude Medical sees FY14 adjusted EPS $3.96-$4.01, consensus $3.99
Sees FY14 revenue $5.64B-$5.76B, consensus $5.7B.
07:31 EDTSTJSt. Jude Medical reports Q2 adjusted EPS $1.02, consensus $1.00
Reports Q2 revenue $1.45B, consensus $1.44B.
07:18 EDTMDTScoliosis Research Society to hold annual meeting
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July 15, 2014
15:19 EDTSTJNotable companies reporting before tomorrow's open
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11:41 EDTSTJSt. Jude Medical technical comments ahead of earnings
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08:00 EDTSTJSt. Jude Medical management to meet with Leerink
Meeting to be held in New York on July 22 hosted by Leerink.
July 14, 2014
19:19 EDTBSXBoston Scientific receives CE Mark for 25 mm Lotus Valve System
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09:05 EDTSTJSt. Jude Medical to acquire NeuroTerm for approximately $200M in cash
St. Jude Medical has signed a definitive agreement to acquire privately held NeuroTherm, a manufacturer of interventional pain management therapies, for approximately $200M in cash. NeuroTherm is involved in the treatment of spinal pain using radiofrequency ablation, a segment of the chronic pain market in which St. Jude Medical does not currently participate. The company expects to complete this transaction by the end of the third quarter, subject to customary closing conditions. NeuroTherm is expected to add approximately $10M-$15M to St. Jude Medicalís 2014 sales. Excluding acquisition-related expenses, this transaction will be neutral to St. Jude Medicalís consolidated EPS in 2014 and accretive thereafter on a GAAP basis.
09:02 EDTBSXBoston Scientific receives CE mark for Ranger drug-coated balloon
Boston Scientific has received CE Mark for the Ranger Paclitaxel-Coated PTA Balloon Catheter. The technology is now in full European market launch. The Balloon provides physicians with an additional option to treat peripheral artery disease, delivering an anti-stenotic drug to diseased vascular tissue while leaving no permanent implant behind.
07:12 EDTMDTCovidien downgraded to Neutral from Overweight at Piper Jaffray
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July 10, 2014
08:02 EDTMDTCryoLife appoints Pat Mackin as President and CEO effective September 2
Mackin is expected to be appointed to the company's board after his employment begins. Steven Anderson will continue to serve CryoLife (CRY) as its President and Chief Executive Officer until Mackin's employment begins and then continue as its Executive Chairman. Mackin joins CryoLife from Medtronic (MDT), where he most recently served as President of Cardiac Rhythm Disease Management.
July 8, 2014
10:28 EDTSTJ, BSXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A.O. Smith (AOS) initiated with an Outperform at Northland... Abengoa Yield (ABY) initiated with a Buy at BofA/Merrill... Aflac (AFL) initiated with a Buy at Drexel Hamilton... Aspen Aerogels (ASPN) initiated with a Buy at Canaccord... Boston Scientific (BSX) initiated with a Buy at CRT Capital... CSC (CSC) initiated with an Underweight at Morgan Stanley... Consumer Portfolio (CPSS) initiated with a Buy at Compass Point... Credit Acceptance (CACC) initiated with a Sell at Compass Point... Intuitive Surgical (ISRG) initiated with a Neutral at BTIG... Masimo (MASI) initiated with a Buy at BTIG... Memorial Resource (MRD) initiated with an Overweight at Barclays... MetLife (MET) initiated with a Buy at Drexel Hamilton... Mueller Water (MWA) initiated with a Market Perform at Northland... New York REIT (NYRT) initiated with a Market Perform at JMP Securities... NorthStar Asset Management (NSAM) initiated with a Market Perform at Keefe Bruyette... Ophthotech (OPHT) initiated with an Outperform at Oppenheimer... Performance Sports Group (PSG) initiated with an Outperform at Wedbush... Prudential (PRU) initiated with a Buy at Drexel Hamilton... RCS Capital (RCAP) initiated with a Neutral at BofA/Merrill... Santander Consumer (SC) initiated with a Neutral at Compass Point... Silicon Laboratories (SLAB) initiated with a Buy at MKM Partners... St. Jude Medical (STJ) initiated with a Buy at CRT Capital... Starwood Waypoint (SWAY) initiated with an Outperform at Keefe Bruyette... T-Mobile (TMUS) initiated with an Outperform at BMO Capital... TherapeuticsMD (TXMD) initiated with an Outperform at FBR Capital... Waddell & Reed (WDR) initiated with an Outperform at William Blair... Xerox (XRX) initiated with an Overweight at Morgan Stanley.
07:04 EDTMDTMedtronic added to short-term buy list at Deutsche Bank
06:36 EDTBSXBoston Scientific initiated with a Buy at CRT Capital
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06:36 EDTSTJSt. Jude Medical initiated with a Buy at CRT Capital
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