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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.
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July 16, 2014
10:36 EDTMDTTreasury calls on Congress to halt inversion deals
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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.
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