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January 7, 2013
12:54 EDTMDTMedtronic raises low end of FY13 outlook for tax credit
Medtronic confirmed in a press release that it tightened its FY13 earnings guidance range to $3.66-$3.70 from the previously stated range of $3.62-$3.70. The new range implies annual EPS growth of 6%-7%. Management indicated that the company's updated guidance is based on the positive financial impact from the recent renewal of the U.S. Research and Development tax credit. As previously stated, management estimates the R&D tax credit to have a positive annual earnings and EPS impact of approximately $30M-35M and 4c, respectively. Due to retroactive accounting treatment, the company expects to realize 3c of diluted EPS benefit in Q3, and 1c in Q4, of FY13.
News For MDT From The Last 14 Days
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July 21, 2014
08:16 EDTMDTDeutsche Bank analysts hold an analyst/industry conference call
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July 18, 2014
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July 16, 2014
10:36 EDTMDTTreasury calls on Congress to halt inversion deals
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07:59 EDTMDTTreasury Secretary urges Congress to take action on tax inversions
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07:18 EDTMDTScoliosis Research Society to hold annual meeting
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July 14, 2014
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.

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