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Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.
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The Vanguard Group, one of Masimo's largest shareholders, has backed both Politan nominees, two sources said. The company, which is currently valued at $8.5 billion, is expected to make preliminary voting results public later on Monday. A representative for Politan declined to comment, and a representative for Masimo was not immediately available for comment. The hedge fund, founded by Koffey, received backing from proxy advisory firms Institutional Shareholders Services and Glass Lewis two weeks ago when both urged shareholders to elect the Politan nominees. In the end, Masimo reversed course and dropped the requirements after Politan sued in Delaware court.
Persons: Quentin Koffey, Michelle Brennan, Masimo, Koffey, Glass Lewis, Politan, Svea Herbst, Bayliss, Leslie Adler Organizations: YORK, Masimo, Politan Capital Management, Vanguard Group, Vanguard, Sound United, Shareholders Services, ISS, Svea, Thomson Locations: Delaware
Companies Apple Inc FollowMasimo Corp FollowMay 1 (Reuters) - A U.S. judge in California on Monday declared a mistrial in Masimo Corp's (MASI.O) potential billion-dollar smartwatch trade secret lawsuit against Apple Inc (AAPL.O) after jurors failed to reach a unanimous verdict, multiple media outlets reported. The jury in federal court in Santa Ana could not determine whether Cupertino, California-based Apple misused confidential information from Masimo related to the use of light to measure biomarkers including heart rates and blood-oxygen levels, U.S. District Judge James Selna said. The jury began deliberating on April 26 after a trial lasting about three weeks. Reporting by Blake Brittain and Stephen NellisOur Standards: The Thomson Reuters Trust Principles.
Companies Apple Inc FollowMasimo Corp FollowJan 10 (Reuters) - A U.S. judge ruled that Apple (AAPL.O) had infringed on one of Masimo Corp's (MASI.O) pulse oximeter patents by importing and selling certain Apple Watches with light-based pulse oximetry functionality and components, Masimo said on Tuesday. The United States International Trade Commission (USITC) will now consider whether to implement an import ban on these Apple Watches, the medical device maker said. Reporting by Rahat Sandhu and Shivani Tanna in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.
Expert advisers to the U.S. Food and Drug Administration met virtually on Tuesday to discuss improvements in standards for pulse oximeters. Imarc Group market research firm forecast the global pulse oximeter market reaching $3.25 billion by 2027. Pulse oximeter problems "suddenly became enormous" during the pandemic, said Dr. Philip Bickler, director of the University of California, San Francisco's (UCSF) Hypoxia Research & Pulse Oximeter Test Facility. Current rules require that pulse oximeters be tested in a minimum of just 10 subjects, only two of whom must be "darkly-pigmented." While the devices are still useful, UCSF's Bickler said, doctors "should not base patient care only on pulse oximeter findings."
Coca-Cola will give $110,000 in cash and products to President-elect Joe Biden's inaugural committee. Boeing, Google, Microsoft, and Comcast are other corporations with significant business before the federal government that have given the Biden inauguration money. Biden's inauguration is still scheduled for January 20 despite the January 6 attack on the US Capitol. Andreas Zeitler/Shutterstock.comOther big corporations giving to Biden inaugurationBoeing in December confirmed to Insider that it was giving the Biden inauguration $1 million. A spokesperson for the Biden inauguration did not immediately return a request for comment.
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