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☆ GE Healthcare's disappointing first quarter offers both a lesson and an opportunity
▼ + stars: | 2024-04-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

GE Healthcare shares sank Tuesday after the company's first-quarter sales and profits fell slightly short of the Wall Street consensus. GE Healthcare Why we own it : GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions in health care. That's what we have to say about this GE Healthcare quarter. This contributed to some of the softness in the first quarter quarter. The GE Healthcare scanner is called the Revolution CT. Martin Schutt | picture alliance | Getty Images

Persons: didn't, GE Healthcare's, —, it's, Peter Arduini, Jim Cramer's, Jim Cramer, Jim, Martin Schutt Organizations: GE Healthcare, LSEG, General Electric, Philips, Siemens, GE Healthcare YTD, GE, Management, Alzheimer's, CNBC, Getty Locations: China, Covid, Jena , Germany

☆ Philips Settles CPAP Breathing Device Lawsuits for $1.1 Billion
▼ + stars: | 2024-04-29 | by ( Christina Jewett | More About Christina Jewett | ) www.nytimes.com time to read: +1 min

Philips Respironics has reached a $1.1 billion settlement over claims that people who used their CPAP and other breathing devices were harmed by noxious gasses and flecks of foam that lodged in their airways, sometimes for years. Thousands of people contended in lawsuits that they had been injured by popular Philips DreamStation machines. Philips did not admit any fault in the settlement, including whether the devices caused the injuries, according to a financial report issued Monday. The personal injury settlement follows a $479 million settlement reached in September over economic losses to the patients and medical equipment sales companies that financed replacement devices. Philips also agreed to a consent decree earlier this year that forced the company to halt U.S. sales of new devices until certain conditions are met.

Persons: Philips Respironics, Philips Organizations: Philips

☆ Philips shares rocket 33% as firm settles U.S. respiratory device case
▼ + stars: | 2024-04-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Philips shares were 33% higher at 9:00 a.m. London time. It said it did not admit any fault or liability, or that any injuries were caused by its Respironics devices. Monday's rebound took Philips shares back to their highest level since April 2022. Adjusted earnings, meanwhile, beat consensus analyst expectations, according to Reuters, coming in at 388 million euros for the quarter. Sales were slightly lower year-on-year, at 4.14 billion euros in the first quarter from 4.17 billion euros in 2023.

Persons: Roy Jakobs, Philips Organizations: Philips, Reuters Locations: U.S, London

☆ Stocks making the biggest moves midday: Tesla, Roku, Apple, SoFi, Domino's and more
▼ + stars: | 2024-04-29 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

SoFi Technologies — The consumer fintech company's stock price plunged about 10% on disappointing second-quarter earnings guidance. AT & T — The telecommunications stock popped 2.8% after Barclays upgraded AT & T to overweight from equal weight, citing a "mismatch" between the company's valuation and its growth prospects. Apple — Shares rose more than 3% after Bernstein upgraded the tech stock to outperform from market perform. Dave — Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating. Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating.

Persons: FactSet, Tesla, Domino's, LSEG, Roku, David Joyce, Bernstein, Toni Sacconaghi, Dave —, Dave, AMC preannounced, Bob Bakish, —, Sarah Min, Tanaya Macheel, Yun Li, Lisa Kailai Han, Michelle Fox Organizations: Technologies, Elon, Sunday, U.S, Philips —, Philips, Barclays, Seaport Research Partners, Apple, Airlines —, Jeffries, AMC Entertainment Holdings, AMC, Paramount Locations: China, U.S

☆ Philips CEO on $1.1 billion settlement over DreamStation sleep apnea machines
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPhilips CEO on $1.1 billion settlement over DreamStation sleep apnea machinesRoy Jakobs, Philips CEO, joins 'Money Movers' to discuss the company's recent settlement, the sales of the company's sleep apnea machines, and more.

Persons: Roy Jakobs Organizations: Philips

☆ 'Vast majority' of legal cases linked to sleep apnea devices recall now settled, Philips CEO says
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Vast majority' of legal cases linked to sleep apnea devices recall now settled, Philips CEO saysPhilips CEO Roy Jakobs comments on the company's first-quarter results and its agreement of a $1.1 billion settlement for personal injury and medical monitoring claims linked to the recall of some respiratory devices.

Persons: Roy Jakobs Organizations: Philips

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jim, Johnson, Abbott, Andy Jassy, Bausch, Salesforce, Salesforce didn't, Tom Jorden, We've, It's, Walt Disney, Nelson Peltz's, Bob Iger's, Estee Lauder, there's, Eaton, We're, he's, Locker, he'd, Vimal Kapur, Linde, Eli Lilly, Eli Lilly's, TikTok, Joe Biden, Morgan Stanley, Morgan Stanley's, Ted Pick, Jensen Huang, Nikesh Arora, haven't, Laxman Narasimhan, Sands, Stanley Black, Decker, TJ Maxx, TJX, Wells, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Johnson, Web Services, Broadcom, VMWare, GE Healthcare, GE, Bausch Health, Costco Wholesale, Costco, Street, Informatica, Coterra, DuPont De Nemours, DuPont, Walt, Disney, Ford, GM, Philips, Siemens, Google, Honeywell, Linde, Facebook, Meta, Microsoft, Nvidia, Investors, AMD, Oregon State University, Palo Alto Networks, UnitedHealth, Procter & Gamble, Constellation Brands, Constellation, Modelo, TJX, Marshalls, Home Goods, Wynn Resorts, Jim Cramer's Charitable, New York Stock Exchange, Afp, Getty Locations: China, Informatica, Ford, Estee, U.S, mater, Palo, Corona, Wells Fargo, Wells, Macao, New York City

☆ Google partners with Bayer on new AI product for radiologists
▼ + stars: | 2024-04-09 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +4 min

"That whole process flow is designed to help radiologists get through their task with assistance more quickly," Kurian said in an interview. Google Cloud and Bayer are not the only companies exploring AI applications for medical imaging. Google Cloud has been working with Bayer on the radiology platform for around five years. The foundation was built using existing Google Cloud solutions like Vertex AI, Healthcare API and BigQuery, and Kurian said the platform's data is encrypted. Google Cloud and Bayer are exploring a number of different pricing models for the platform, he said.

Persons: Thomas Kurian, radiologists, Kurian, Keith Kirkpatrick, there's, Kirkpatrick, Bayer, Guido Mathews, Mathews Organizations: Google, Bayer, Tuesday, CNBC, Radiological Society of North, American College of Radiology's, Google Cloud, Philips, Amazon Web Services, GE HealthCare Locations: U.S, Radiological Society of North America, Netherlands

☆ Surging oil prices may challenge the Federal Reserve's inflation fight
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Mounting geopolitical tensions stemming from conflict in the Middle East and Eastern Europe have helped drive oil prices to five month highs, challenging the Federal Reserve's fight against inflation. U.S. crude oil gained 4.5% this week, touching $87 a barrel on Friday before settling at $86.91. Rising energy prices may affect the timing or magnitude of interest rate cuts, he said. The Federal Reserve is focused on bringing down core inflation, which excludes volatile energy and food prices. Escalating attacks are coming against a backdrop of an already tightening global crude market.

Persons: Brent, Bart Melek, Andy Lipow, Lipow, Bob Yawger, Yawger, Netanyahu, Manish Raj, White, Biden, John Kilduff, Kilduff, Melek, Saudi Arabia doesn't Organizations: Federal, American Automobile Association, West Texas, TD Securities, Lipow Oil Associates, Mizuho Americas, Valero, Philips, Marathon Petroleum, Velandera Energy Partners, Kyiv, JPMorgan, Financial Times, Again Capital, Bank of America, Saudi Locations: East, Eastern Europe, Iran, Israel, Ukraine, Damascus, Kyiv, Ukrainian, Russia, Saudi Arabia

A large suburban Philadelphia county has joined dozens of other local governments around the country in suing the oil industry, asserting that major oil producers systematically deceived the public about their role in accelerating global warming. The county wants oil producers to pay to mitigate the damage caused by climate change. The county's 31 municipalities will spend $955 million through 2040 to address climate change impacts, the group forecast last year. It said climate change policy is the responsibility of Congress, not local governments and courts. Circuit Court of Appeals dismissed a lawsuit by New York City against five oil companies to recoup damages caused by global warming.

Persons: Gene DiGirolamo, Theodore J, Boutrous Jr, ” Ryan Meyers Organizations: D.C, Center, Climate Integrity, BP, Chevron, ConocoPhillips, ExxonMobil, Philips, Shell, American Petroleum Institute, U.S, Circuit, New Locations: Philadelphia, Bucks, California , Colorado, Hawaii , Illinois, Maryland , New Jersey , New York , Oregon, South Carolina, Puerto Rico, Washington, Bucks County, Pennsylvania, New York City

☆ Bank of America helps its clients sell their art, watches, and Birkin bags. It's all part of a drive to be the one-stop shop for the art world.
▼ + stars: | 2024-03-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Most banks, including UBS and Morgan Stanley, refer clients to third-party consultants to broker deals with auction houses. The bank secured a minimum sale price guarantee and negotiated how the house would market the painting. Courtesy of Bank of AmericaThe bank typically approaches two to three auction houses, such as Christie's, Sotheby's, and Philips. You've got to look at it in the holistic context of the sales strategy and also the financial terms," Watson explained. Advertisement"We try to get them to sharpen their pencil while we still have leverage with the other houses," Watson said.

Persons: Bank of America's Drew Watson, Watson, Morgan Stanley, Henri Rousseau, Whitney, Les, Drew Watson, Price, You've, Merrill Lynch, Birkin Organizations: Service, Bank of America's, UBS, Bank of America, Bank of, of America, Christie's, Philips Locations: Bank

☆ Activist Oasis may turn to a preferred playbook to help build value at Greencore
▼ + stars: | 2024-03-23 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Greencore Group is an Ireland-based manufacturer of convenience foods. Premier Foods has generated a total return of nearly 300%, while Greencore is down 41.5% in that time. It is hard to believe there is another investor more qualified to create shareholder value at Greencore than Oasis. In addition, at The Restaurant Group and Premier, Oasis pushed for the sale of non-core assets, which is consistent with streamlining operations and creating shareholder value. One Greencore director who Oasis knows well is Alastair Murray, the former CFO and once-interim CEO of Premier Foods.

Persons: Seth Fischer, Greencore, Daniel Wosner, Oasis, Gavin Darby, Darby, Wosner, Wosner's reappointment, Dalton Philips, Catherine Gubbins, Alastair Murray, Murray, Ken Squire Organizations: Greencore, Convenience Foods, Ireland, Oasis Management, Oasis, Premier Foods, Apollo, Premier, Group, 13D Locations: Ireland, United Kingdom, Hong Kong, Tokyo, Austin, Cayman Islands, Asia, Europe

The mini totes are offered in four colors — blue, red, green, and yellow — and they are all in high demand. Videos shared on social media show crowds of customers visiting Trader Joe’s stores hoping to get their hands on one of the highly-coveted mini totes. “Our Mini Canvas Tote Bags certainly sold more quickly than we anticipated,” said Nakia Rohde, a spokesperson for Trader Joe’s. Of course, Trader Joe’s mini totes aren’t the first to become a viral sensation. “We do have more Trader Joe’s Mini Canvas Tote Bags coming,” said Rohde.

Persons: ”, Nakia Rohde, Joe’s, Rohde, Huy, Stanley, Wyatte Organizations: eBay, Facebook, “, AP, Philips Locations: Monrovia , California, Huy Fong, New York

☆ Jimmy Fallon wakes up at 6 a.m. to a sunrise alarm clock and then checks his WHOOP score to see how he slept
▼ + stars: | 2024-03-11 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

The late-night host said his sunrise alarm clock wakes him up at 6 a.m. on Mondays. He said his sunrise alarm clock wakes him up with a gradual fake sunrise. AdvertisementA Philips sunrise alarm clock. Fallon did not immediately respond to requests for comment about which sunrise alarm clock he owns. WHOOP offers a free one-month trial period that comes with a pre-owned device.

Persons: Jimmy Fallon, Fallon, —, it's, Fallon hasn't, Barry Chin, everyone's Organizations: Service, Wall, Philips, Boston Globe, Getty, Apple, OpenAI

Shop at Amazon Shop at Walmart What we like Check mark icon A check mark. Shop at Amazon Shop at Hatch What we like Check mark icon A check mark. Shop at Amazon Shop at Best Buy Shop at Casper What we like Check mark icon A check mark. What to look for in sunrise alarm clocksSunrise alarm clocks are a bit different from traditional alarm clocks, so there are certain features you want to consider before purchasing one. How we tested sunrise alarm clocksWe used each alarm for at least three days to test their features and performance.

Persons: Chris Winter, Hatch, Suzy Hernandez, I've, Philips, Jenny McGrath, It's, it's, Alex Dimitriu, William Winter, Dimitriu, Kelly Waters Organizations: Business, Charlottesville Neurology, Sleep, Philips, Amazon, Shop, Bluetooth, Walmart, Smart, Menlo Park Psychiatry, Eastern Psychological Association, SleepScore Labs, Spectrum Health Locations: Charlottesville, Nepal, Casper

☆ Opinion: Bad omens for Trump
▼ + stars: | 2024-03-06 | by ( Opinion David Mark | ) edition.cnn.com time to read: +9 min

CNN —Former President Donald Trump is the closest thing in modern political history to an incumbent who doesn’t hold the office. But these considerable advantages also raise questions about his general election chances given his inability to completely win over Republican primary voters. Despite effectively clinching the Republican nomination with a near-sweep of Super Tuesday states, Trump couldn’t escape the shadow cast by former South Carolina Gov. Haley dropped out Wednesday after consistently winning 30% or so of the GOP primary vote in the states she competed in. Undoubtedly some of the Republican voters who backed Haley in the primaries and caucuses will return to the Trump fold in November, maybe even a majority.

Persons: David Mark, “, Donald Trump, doesn’t, Trump, Nikki Haley, Haley, Joe Biden, haven’t, Pat Buchanan, George H.W, Bush, Pat Sullivan, Buchanan, Bill Clinton, Ross Perot, Massachusetts Sen, Ted Kennedy, Jimmy Carter, Kennedy, Carter, Ronald Reagan, Joan, Wally McNamee, Corbis, Reagan, Gerald Ford, Richard Nixon, Ford, Owen Franken, Lyndon Johnson, Johnson, Sen, Eugene McCarthy, Hubert Humphrey, Nixon, Biden, Hillary Clinton, they’re, McCarthy, Dean Phillips, Marianne Williamson, ”, Israel –, Philips, doesn’t bode Organizations: Washington, CNN, Trump, Republican, South Carolina Gov, GOP, United Nations, Evangelical Pastors, GOP White House, Republican Party, Democratic, Electoral, New Hampshire Democratic, Biden, Rep, Dean Phillips of Minnesota, Twitter, Facebook, Hamas, Israel Locations: Arizona , Georgia, Michigan, Nevada , New Hampshire , Pennsylvania, Wisconsin, Trump, Bedford , New Hampshire, Massachusetts, California, Boston, . Indiana, Minnesota, Vietnam, North Carolina, Virginia, Gaza

☆ Rep. Dean Philips on 2024 race: Incumbent on me to demonstrate who's better positioned to beat Trump
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Dean Philips on 2024 race: Incumbent on me to demonstrate who's better positioned to beat TrumpRep. Dean Philips (D-Minn.) joins 'Squawk Box' to discuss the state of the 2024 race, whether he still sees a path forward for his campaign, whether his candidacy hurts the Democrats' chances to beat former President Donald Trump in November, and more.

Persons: Dean Philips, Donald Trump Organizations: Rep, Trump Rep

☆ Goldman names 3 'attractive' value stocks that offer more than 50% upside
▼ + stars: | 2024-02-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has identified three "attractive" value stocks that could see significant share price appreciation over the next 12 months. The Wall Street bank's analysts see over 50% upside potential in British Airways parent International Consolidated Airlines Group , agricultural machinery maker CNH Industrial , and health technology company Philips . Goldman Sachs said all three companies stand out amongst their European peers for their cheap valuations compared to earnings growth prospects. IAG-GB 1Y line Philips Goldman recommends buying Philips and expects the shares to be up 51% over the next 12 months. CNH Industrials Goldman Sachs upgraded CNH to buy last month.

Persons: Goldman Sachs, John Sawtell, Goldman's, Patrick Creuset, Creuset, Philips Goldman, Roy Jakobs, CNH Industrials Goldman Sachs, Michael Bloom Organizations: British Airways parent International Consolidated Airlines Group, Philips, CNBC Locations: Europe, United States

☆ Hang a picture of Jason Kelce shirtless in the Louvre? ArtButMakeItSports thinks so
▼ + stars: | 2024-02-08 | by ( Callum Sutherland | ) edition.cnn.com time to read: +6 min

Social media account ArtButMakeItSports connects the dots. He says: “I tend to see things through a sports lens, and I guess art is no different for me. Rebecca Blackwell/APSamson and Delilah, by Anthony van Dyck, 1628-30, 📸 by Rebecca Blackwell pic.twitter.com/jNJ6HNjNn5 — ArtButMakeItSports (@ArtButSports) December 24, 2023Are sport and art all that different? Since starting ArtButMakeItSports, Rader says the audience has been small for the most part. After all, wouldn’t we all love to see a roaring Jason Kelce matched with a renaissance painting on our social media feeds again?

Persons: –, ArtButMakeItSports, LJ Rader, Phillips de Koninck, haring, ake, eason, hy, ruth, ”, ike Organizations: CNN, ust

☆ GEHC stock finally gets some respect after earnings. Those betting against it got slammed
▼ + stars: | 2024-02-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Business at GE Healthcare Technologies capped off 2023 on a strong note despite ongoing concerns about China. The quarterly earnings result from GE Healthcare on Tuesday is the best of both worlds. Quarterly commentary In addition to the mid-single-digit organic revenue growth, total company orders increased by 3%. The continued divergence in orders between the two companies suggests GE HealthCare is taking market share in the industry. A GE Healthcare Ltd. BioProcess machine stands on display during the International Pharmaceutical Expo (Interphex) in New York.

Persons: Eli Lilly, GEHC, It's, Jim Cramer, Philips, we're, GEHC's, We're, Jim Cramer's, Jim Organizations: GE Healthcare Technologies, The, Starbucks, GE Healthcare, General Electric, GE HealthCare, Management, JPMorgan Healthcare, Federal Reserve, CNBC, GE Healthcare Ltd, International Pharmaceutical, Bloomberg, Getty Locations: China, ultrasounds, MRIs, New York

Activist investor Elliott Management has a "sizable" investment in e-commerce firm Etsy , which announced on Thursday that Elliott partner Marc Steinberg would join the company's board. The activist investor has built a roughly 13% position in the stock, a person familiar with the matter told CNBC. The position would make it Etsy's largest investor. Still, the e-commerce company's stock is down about 10% year-to-date. It competes with e-commerce companies including Amazon, which has its own handcrafted products platform.

Persons: Elliott, Marc Steinberg, CNBC's David Faber, Josh, Steinberg, Etsy, Josh Silverman, Silverman Organizations: Nasdaq, Elliott Management, CNBC, Vanguard, BlackRock, Match Group, Philips, Amazon Locations: New York City, Salesforce, Brazil

We're selling 95 shares of GE Healthcare at roughly $74. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 1,150 shares of GEHC, reducing its weighting to 2.75% from 2.97%. If hospitals have more of a wherewithal to invest in medical equipment, some of that will go to GE Healthcare. Philips orders have been down for six quarters in a row, but GE Healthcare hasn't seen that weakness yet. With Wednesday's sale, we'll realize a small loss of about 7% on GEHC stock purchased last May.

Persons: Jim Cramer's, GEHC, We've, Jim Cramer, Jim Organizations: GE Healthcare, JPMorgan Healthcare, Philips, GE, JPMorgan, GE Healthcare hasn't, CNBC Locations: China, GEHC

☆ Philips CEO on product recalls and deal with FDA
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPhilips CEO on product recalls and deal with FDARoy Jakobs, Philips CEO, joins 'Money Movers' to discuss how long the company will resume selling sleep apnea machines in the U.S., the safety of the company's devices, and more.

Persons: FDA Roy Jakobs Organizations: Philips, FDA Locations: U.S

☆ Philips Suspends U.S. Sales of Breathing Machines After Recall
▼ + stars: | 2024-01-29 | by ( Christina Jewett | ) www.nytimes.com time to read: +1 min

Philips Respironics announced on Monday that it would halt sales of all of its breathing machines in the United States after reaching a settlement with the Food and Drug Administration over continuing problems with the devices. Millions of the company’s ventilators and CPAP machines, used to ease breathing at night, were recalled after reports that they blew bits of foam and potentially toxic gases into consumers’ airways. Under the settlement, Philips said it would have to meet a list of standards in a “multiyear” plan before it could resume business in the United States. The company initially began the recall of millions of devices in June 2021 and paused sales of new sleep therapy machines to the United States, according to Steve Klink, a spokesman for Philips. cited the potential for serious injury or permanent impairment from the potentially cancer-causing chemicals emitted from the devices.

Persons: Philips Respironics, Philips, Steve Klink Organizations: Food and Drug Administration, Philips Locations: United States

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