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☆ GE HealthCare beats quarterly profit estimates on imaging device demand
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

A logo is displayed on a GE digital anesthesia carestation as U.S. Vice President Mike Pence (not pictured) visits a GE Healthcare manufacturing facility during the global coronavirus disease (COVID-19) outbreak in Madison, Wisconsin, U.S. April 21, 2020. Larger peer Abbott Laboratories (ABT.N) also topped its quarterly profit estimates, aided by a recovery in sales of its medical devices such as heart valves and pacemakers. In the previous quarter, GE HealthCare had said that Alzheimer's-related testing would help drive demand for its imaging equipment at hospitals and medical centers next year. $2.64 billion of the sales came from imaging devices, in line with estimates. On an adjusted basis, GE HealthCare earned 99 cents per share, above LSEG estimates of 90 cents.

Persons: Mike Pence, Daniel Acker, Christy Santhosh, Maju Samuel Organizations: GE, GE Healthcare, REUTERS, GE HealthCare Technologies Inc, Abbott Laboratories, GE HealthCare, Thomson Locations: Madison , Wisconsin, U.S, COVID, United States, Bengaluru

☆ Universal basic income is working — even in red states
▼ + stars: | 2023-10-29 | by ( Michael Venutolo-Mantovani | ) www.businessinsider.com time to read: +14 min

He encourages skeptical taxpayers to look at universal basic income from the same "selfish point of view." Among those who received a basic income in Stockton, California, the unemployment rate dropped by nearly 50%. With more data at hand than theoretical projection, the evidence is overwhelming: Universal basic income is working nearly universally. Promising as these pilot programs are, the chances of a truly universal basic income in America remain remote. As for Tydricka Lewis, basic income afforded her the latitude to start her own nonprofit.

Persons: Tydricka Lewis, she'd, Lewis, North Carolina's, Jack Dorsey, Durham, Dorsey, Mark, Anthony Middleton, Middleton's, it's, Thomas Paine, Huey Long, George McGovern, Andrew Yang, Anna Jefferson, Nick Otto, Jefferson, Middleton, StepUp, UBI, we've, Michael Venutolo, Condé Organizations: North Carolina Central University , Durham, Abt Associates, University of Pennsylvania, Durham's, Excel, KFC, Generation Movement, Durham Bulls, The New York Times, National Geographic, Wired Locations: Durham, North, America, Black, New York City, Denver, Stockton , California, Los Angeles, Baltimore, Columbia, South Carolina, Birmingham , Alabama, Gainesville , Florida, Florida, Gainesville, AFP, Durham County, Washington, Chapel Hill , North Carolina

☆ AMC's CEO thought he was texting naughty photos to a former ballerina fling. Then everything went haywire.
▼ + stars: | 2023-10-27 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

This "resentment toward her abusers" may have led her to text Aron — a wealthy, powerful man in the public eye, her lawyers said. "Send me a naughty picture," Blackwood texted, a couple weeks into their flirty exchange. When he asked for photos in return, Blackwood sent him images of an unnamed Russian model that she pulled from Instagram. "Ceo scandal is apparently lucrative," Blackwood texted, posing as Brian. AdvertisementAdvertisement"I was shown some images and I was wondering if you're available to speak," the fake reporter texted Aron.

Persons: Adam Aron's, Mia, Aron, Sakoya Blackwood, Adam Aron, Matthew Belloni, Blackwood, She'd, Evander, —, Aron —, paramour, Koya Blackwood Fews, Lila Cohen, Brian, Blackwood texted, he'd, they'd, Brian —, He'd, Brian didn't, there's, he's, abt, Aron didn't, Blackwood didn't, texted Aron, hadn't, Jeff Bezos, Bezos, fiancée Lauren Sanchez —, Aron hasn't, hasn't, Taylor, unfazed, He's Organizations: of, United States, Court Southern District of, Hollywood, AMC, Evander Childs High School, —, Instagram, Arizona, National Enquirer, ppl, FBI, Twitter, Amazon Locations: Southern, of New York, Court Southern District of New York, Bronx, Jamaica, Russian, York City, California, Sinai, Aron

☆ Former Trump lawyer Ellis pleads guilty in Georgia, could testify against Trump
▼ + stars: | 2023-10-24 | by ( Andrew Goudsward | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +4 min

WASHINGTON, Oct 24 (Reuters) - A former lawyer for Donald Trump, Jenna Ellis, pleaded guilty on Tuesday to helping the then-U.S. president's efforts to overturn his 2020 election defeat in the state of Georgia and agreed to testify against Trump if called upon. "What I did not do and should have done, your honor, was to make sure that the facts the other lawyers alleged to be true were in fact true," Ellis told Fulton County Superior Court Judge Scott McAfee. Ellis, 38, pleaded guilty to aiding and abetting false statements and writings. Prosecutors said she attended a meeting with Georgia lawmakers where Trump personal lawyer and former New York Mayor Rudy Giuliani made false claims about voting irregularities. It is unclear what Powell, Chesebro and Ellis have told prosecutors or how broad their testimony could be.

Persons: Donald Trump, Jenna Ellis, Trump, Ellis, Sidney Powell, Kenneth Chesebro, Fani Willis, Scott McAfee, Democrat Joe Biden, Willis, Jay Abt, Prosecutors, Rudy Giuliani, Giuliani, Scott McAfee’s, Amy Lee Copeland, Powell, Chesebro, Biden, Copeland, Andrew Goudsward, David Ljunggren, Scott Malone, Jonathan Oatis Organizations: Trump, Fulton, Republican, Democrat, New York, MSNBC, Thomson Locations: Georgia, Fulton County, Atlanta, Fulton, Scott McAfee’s Fulton, Atlanta , U.S

☆ Corporate America weighs risks of the Ozempic effect
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

Walmart (WMT.N) expects revenues from its health and wellness products to increase in the second half of the year, mainly due to the popularity of weight-loss drugs. PepsiCo (PEP.O) Chief Financial Officer Hugh Johnston has said the company is "not seeing any impact" yet from the popularity of weight-loss drugs. Abbott Laboratories (ABT.N), which makes glucose monitoring products, has said that the market was overestimating the impact to its sales from growing popularity of the drugs. Abbott CEO Robert Ford has said that diabetes patients could end up using glucose monitors with the weight-loss drugs in the long term. DRUG DISTRIBUTORSCencora (COR.N), formerly called AmerisourceBergen, Cardinal Health (CAH.N) and McKesson (MCK.N) have flagged potential boost to revenues this year owing to the growing demand for weight-loss drugs.

Persons: George Frey, Eli Lilly's, Hugh Johnston, Johnson, Joseph Wolk, Robert Ford, Bhanvi, Mrigank Organizations: Novo Nordisk, Pharmacy, REUTERS, Walmart, PepsiCo, Abbott Laboratories, Insulet Corp, Cardinal Health, Thomson Locations: Provo , Utah, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Demand for safe-haven assets sent gold prices to a more than two-month high, up over 1%, while the U.S. dollar also strengthened. Stronger crude prices pushed energy stocks (.SPNY) 1% higher, while industrials (.SPLRCI) and materials (.SPLRCM) led the decline in major S&P 500 sectors. Declining issues outnumbered advancers by a 3.90-to-1 ratio on the NYSE and by a 2.69-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and 14 new lows, while the Nasdaq recorded 20 new highs and 149 new lows.

Persons: Brendan McDermid, Morgan Stanley, Joe Biden, Biden, Treasuries aren't, Brian Jacobsen, homebuilding, Chris Giamo, Morgan Stanley's, New York's John Williams, Christopher Waller, Michelle Bowman, Jerome Powell's, Patrick Harker, Ankika Biswas, Shashwat Chauhan, Sruthi Shankar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Tuesday United Airlines, Dow, Nasdaq, U.S ., Annex Wealth Management, Federal Reserve, TD Bank, Abbott Laboratories, Consumer, Procter, Gamble, Tesla, Netflix, . Philadelphia Fed, Wall Street Journal, Dow Jones, Nvidia, Biden, China . United Airlines Holdings, NYSE, Thomson Locations: New York City, U.S, Israel, Gaza, New, China, Bengaluru

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 18 (Reuters) - Abbott Laboratories (ABT.N) said the market was overestimating the hit to sales of its glucose monitoring products from growing popularity of new diabetes drugs, adding the treatments could end up boosting sales of the medical device maker. The company's shares have dropped 16% this year, mainly on concerns that new GLP-1 diabetes drugs such as Novo Nordisk's Ozempic and Eli Lilly's Mounjaro could eat into the sales of its continuous glucose monitoring (CGM) devices. Hurdles in health insurance reimbursement and pricing could, however, keep market growth for GLP-1 drugs limited to a small number of patients in the near term, Abbott CEO Robert Ford said on Wednesday. Third-quarter sales of FreeStyle Libre, Abbott's CGM device used by diabetes patients, jumped 30.5% to $1.4 billion, lifting Abbott's shares 3% in morning trade. The numbers helped Abbott's medical device sales that stood at $4.25 billion, beating analysts' estimates of $4.16 billion, according to LSEG data.

Persons: Brendan McDermid, Nordisk's Ozempic, Eli Lilly's, Abbott, Robert Ford, Ford, Vijay Kumar, Pratik Jain, Leroy Leo, Anil D'Silva, Shounak Dasgupta, Shinjini Organizations: Abbott, New York Stock Exchange, REUTERS, Abbott Laboratories, Nordisk's, Thomson Locations: New York City, U.S, GLP, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. On the earnings front, consumer goods maker Procter & Gamble (PG.N) edged up 0.2% after its quarterly sales topped market expectations. EV maker Tesla (TSLA.O) and streaming services company Netflix (NFLX.O) are scheduled to report quarterly results after market close. ET, Dow e-minis were down 93 points, or 0.27%, S&P 500 e-minis were down 18.5 points, or 0.42%, and Nasdaq 100 e-minis were down 88.25 points, or 0.58%. Travelers Companies (TRV.N) reported a 14% fall in quarterly profit.

Persons: Brendan McDermid, Joe Biden, Morgan Stanley, New York's John Williams, Governors Christopher Waller, Michelle Bowman, Jerome Powell's, Powell, Patrick Harker, Neel Kashkari, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, United Airlines, Dow, Nasdaq, U.S, Chevron, Exxon Mobil, Occidental Petroleum, Treasury, Procter, Gamble, Abbott Laboratories, Tesla, Netflix, Federal Reserve, Governors, Generale, Philadelphia Fed, Wall Street Journal, Minneapolis, Dow e, Nvidia, Biden, China . United Airlines Holdings, Rivals American Airlines, Delta Air Lines, Interactive, Travelers Companies, Thomson Locations: New York City, U.S, United, Gaza, Israel, New, China, Bengaluru

☆ Abbott profit beats on strong sales of medical devices, diagnostics
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

Abbott Laboratories logo is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, U.S., October 18, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 18 (Reuters) - Abbott Laboratories (ABT.N) on Wednesday tightened its profit forecast for the year after beating estimates for third-quarter earnings on strong demand for its medical devices and diagnostics products. The company is seeing a recovery in sales of its medical devices such as heart valve devices and pacemakers as more older people opt for surgeries that were put off due to the pandemic. Abbott posted a near 17% rise in quarterly sales of its medical devices to $4.25 billion, beating analysts' estimates of $4.16 billion. Excluding items, Abbott earned $1.14 per share, above analysts' estimates of $1.10 per share, according to LSEG data.

Persons: Brendan McDermid, Abbott, Nordisk's Ozempic, Eli Lilly's, Mounjaro, Pratik Jain, Leroy Leo, Anil D'Silva Organizations: Abbott, New York Stock Exchange, REUTERS, Abbott Laboratories, Libre, Nordisk's, Thomson Locations: New York City, U.S, Bengaluru

☆ The top 10 things to watch in the stock market Wednesday
▼ + stars: | 2023-10-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

U.S. stock are under pressure in premarket trading Wednesday, with S & P 500 futures down 0.47%. Revenues at its wealth management division rise 4.6% but fall short of analysts' forecasts, sending shares tumbling by 2.6% in premarket trading. Morgan Stanley reduces its price target to $600 a share, down from $630, while Citi lowers to $575 a share, from $630. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Morgan Stanley, Jefferies, Goldman Sachs, Wells Fargo, Sherwin, Williams, Jim Cramer's, Jim Cramer, Jim Organizations: Treasury, West Texas, Club, Procter, Gamble, Abbott Laboratories, Citi, Nvidia, Visa, Mastercard, Journal, Coterra Energy, Occidental Petroleum, Antero Resources, Starbucks, JPMorgan, Meta, Bank of America, Dow Inc, Huntsman Corp, LyondellBasell Industries, Albemarle, Westlake Corporation, Jim Cramer's Charitable, CNBC Locations: China

Copeland spoke with The Associated Press about her new focus, fighting for more inclusive emojis, and staying in shape. She wants to push the boundaries and it didn’t matter what question I asked her, she was going to push me (laughs) in every way. That to me is like the grand scheme theme is that art saves lives, and dance and ballet can be inclusive. AP: Why did you start a petition to create new emojis related to dance that are more inclusive? All of these things that I think are such an incredible evolution of where I’ve come from as an artist and as a Black artist.

Persons: Misty Copeland, Copeland, Nathaniel Mary Quinn, Twlya Tharp, Tharp, COPELAND, Twyla, I’ve, we’ve, she’s, Misty, Quinn, it’s, Tik, I’m, ABT, Derek Jeter, Wayne Gretzky Organizations: American Ballet Theatre, PBS, Associated Press, Twitter, Misty Copeland Foundation, Lincoln Center Locations: It’s

BRUSSELS, Sept 26 (Reuters) - Edwards Lifesciences (EW.N) was raided by EU antitrust regulators at one of its facilities in an EU country a week ago, two people with direct knowledge of the matter told Reuters on Tuesday. Edwards Lifesciences' shares dipped after the Reuters story, falling 2.5% in pre-market trade. Edwards Lifesciences, which says it is a global leader in making medical products for structural heart disease, did not respond to repeated emailed requests for comment. Companies found guilty of violating EU antitrust rules face fines as much as 10% of their global turnover. According to analysts, Edwards Lifesciences competes with Abbot Laboratories (ABT.N), Medtronic (MDT.N), Zimmer Biomet (ZBH.N) and Boston Scientific Corp (BSX.N), among others.

Persons: Edwards, Edwards Lifesciences, Zimmer Biomet, Foo Yun Chee, Kirsten Donovan, Louise Heavens Organizations: Reuters, European, EU, Abbot Laboratories, Boston Scientific Corp, Thomson Locations: BRUSSELS, EU

Torrent is hoping to secure roughly $3 billion to $4 billion in financing for the bid for its much bigger rival, they said. Blackstone (BX.N) is also interested in bidding for Cipla, sources have also said. Apollo is "quite bullish on their Asia strategy, and India in particular...both Cipla and Torrent have strong balance sheets," the person said. Apollo and Torrent, which has yet to confirm its interest in Cipla, did not immediately respond to a request for comment. Foreign banks, including Morgan Stanley (MS.N) and Barclays (BARC.L), are also in talks with Torrent to extend loans and arrange financing for the deal, sources have said.

Persons: Danish Siddiqui, Bernstein, Blackstone, Morgan Stanley, Abbott, Sriram, Aditya Kalra, Edwina Gibbs Organizations: REUTERS, Danish, pharma, Pharmaceutical, Apollo Global Management, Capital Partners, Bain Capital, Blackstone, Mumbai International, JSW, Barclays, Pfizer, Thomson Locations: Cipla, Mumbai, India, MUMBAI, DELHI, Asia

☆ US FDA warns 3 baby formula makers to correct manufacturing process controls
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. The FDA pulled up these companies for failing to establish processes to ensure infant formula does not become contaminated during manufacturing. The recalls were meant to remove products potentially contaminated with the bacteria cronobacter sakazakii, the FDA added. "The agency... believes that the recalls were effective in removing the potentially contaminated batches of product from the market," the FDA said. Infant formula manufacturing is under greater scrutiny following the shortage of the product last year due to a shutdown of Abbott Laboratories' (ABT.N) unit in Michigan.

Persons: Andrew Kelly, Benckiser, Mead Johnson, Perrigo, ByHeart, Leroy Leo, Krishna Chandra Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug Administration, ByHeart Inc, Mead Johnson Nutrition, Abbott Laboratories, Thomson Locations: White Oak , Maryland, U.S, PRGO.N, Wisconsin, Michigan, Bengaluru

☆ 30 dividend-paying stocks in solid sectors with upside outside the AI hype, according to a 30-year fund manager
▼ + stars: | 2023-08-27 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Similar companies within the healthcare sector in his portfolio include Abbott Laboratories (ABT), which pays out a 1.95% dividend yield. Additionally, it offers a 2.35% dividend yield. Within the defense sector, he also likes Lockheed Martin (LMT), which pays a dividend yield of 2.64%. It pays out a 2.19% dividend yield plus a profit and losses payout at the end of the year. It has a 2.85% dividend yield and has increased its payout by about 8 to 10% a year, he said.

Persons: Max Wasserman, He's, Wasserman, overvalued, That's, Johnson, There's, Lockheed Martin Organizations: Miramar Capital LLC, Nasdaq, Broadcom, Microsoft, Company, NAPA Auto, Parts, Abbott Laboratories, Merck & Co, Dynamics, Group, PepsiCo Locations: Northbrook , Illinois, NAPA

Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023. Medtronic, which makes pacemakers, catheters and other tools used in heart and gastrointestinal surgeries, joins rivals, including Abbott Laboratories (ABT.N), Stryker (SYK.N) and Boston Scientific (BSX.N), on benefiting from a rise in non-urgent surgeries. CEO Geoff Martha said trends pointed to a recovery in surgical volumes as some procedures returned to stronger than pre-pandemic levels. Whereas, revenue from its medical surgical unit rose 5.5% to $2.04 billion. Medtronic also said that it was expecting to split its patient monitoring and respiratory interventions businesses in the first half of fiscal 2025.

Persons: Dado Ruvic, Stryker, Geoff Martha, It's, Martha, Edward Jones, John Boylan, Medtronic, Bhanvi Satija, Christy Santhosh, Shweta Agarwal Organizations: REUTERS, Abbott, Abbott Laboratories, Boston, Thomson Locations: Dublin, Bengaluru

☆ Medtronic raises forecast as demand for heart devices powers upbeat results
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 22 (Reuters) - Medtronic (MDT.N) on Tuesday raised its annual profit forecast, after beating first-quarter estimates on higher demand for its medical devices used in heart and gastrointestinal surgeries. A recovery in non-urgent procedures and easing staffing shortages following a decline in COVID-19 cases has boosted the demand for medical devices. Sales at Medtronic's heart devices unit, its biggest revenue driver, increased 5.5% to $2.85 billion for the first quarter, above analysts' estimates of $2.78 billion. Revenue for the quarter rose 4.5% to $7.70 billion, topping analysts' average estimate of $7.57 billion. Its adjusted profit of $1.20 per share for the quarter ended July 28 beat estimates of $1.11 per share.

Persons: Dado Ruvic, Medtronic, Stryker, Bhanvi Satija, Christy Santhosh, Shweta Agarwal Organizations: REUTERS, Abbott Laboratories, Boston, Revenue, Thomson Locations: COVID, Dublin, Bengaluru

WASHINGTON, Aug 15 (Reuters) - The indictment of Former President Donald Trump for interfering in the 2020 presidential election in Georgia will be the biggest case of prosecutor Fani Willis' career, but it will not be her first contentious prosecution. “She’s not afraid of big cases,” said Gerald Griggs, a criminal defense attorney and president of the Georgia state conference of the NAACP. Willis worked from 2001 to 2018 in the Fulton County prosecutor's office, then won election as county prosecutor in 2020, defeating her former boss, Paul Howard. Willis campaigned on building leniency programs for some low-level offenders, but also adopted a hard line on violent crime and gang activity. “Anybody that thinks they can unleash insults from a podium and that’s going to shake Fani Willis is sorely mistaken."

Persons: Donald Trump, Fani Willis, Willis, Trump, She’s, ”, Gerald Griggs, “ She’s, Brian Kemp, Elijah Nouvelage Georgia's, Jeffery Lamar Williams, Young, Jay Abt, ” Abt, Kamala Harris, Paul Howard, Griggs, ” Griggs, Andrew Goudsward, Tom Hals, David Bario, Alistair Bell Organizations: NAACP, Republican, Democrat, Trump, Georgia, Fulton, REUTERS, South Atlanta Magazine, Black Panther Party, Howard University, Washington , D.C, Emory University School of Law, Thomson Locations: Georgia, Fulton County, overreach, Atlanta, Georgia's, Atlanta , Georgia, U.S, Washington ,, Washington, Wilimington , Delaware

☆ These 7 companies hire remote workers and help pay off student debt
▼ + stars: | 2023-08-08 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Tayfun Coskun | Anadolu Agency | Getty ImagesHow student loan aid works as an employee benefitStudent loan assistance programs come in a number of forms, and the benefit's value can vary widely. So it's worth digging into the terms before you make it a deciding factor in your job hunt, experts say. Total outstanding student loan debt is estimated to be over $1.7 trillion. "With very low unemployment rates, employers will be more willing to offer student loan assistance to attract and retain qualified employees," said higher education expert Mark Kantrowitz. Although, he noted, a higher salary does allow workers to pay off their debt at a faster pace on their own.

Persons: ABT, Tayfun, Mark Kantrowitz Organizations: Anadolu Agency, Getty, Fidelity Locations: View , California, United States

☆ Medical device maker Zimmer Biomet lifts profit forecast as surgeries rebound
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Zimmer Biomet Holdings Inc (ZBH.N) on Tuesday raised its full-year profit forecast, anticipating demand to hold up for its medical devices following a rebound in knee and hip replacement procedures. Abbott Laboratories (ABT.N) attributed its strong quarter to hospitals addressing bottlenecks from the pandemic while Johnson & Johnson (JNJ.N) said it expected to top profit estimates with surgeries bouncing back. The company now expects full-year profit of $7.47 to $7.57 per share, compared with its previous forecast of $7.40 to $7.50. The Indiana-based company's second-quarter revenue rose nearly 5% to $1.87 billion, beating analysts' estimates of $1.83 billion. Zimmer also expects reported revenue to grow between 6.5% and 7% this year, compared to its prior forecast of between 5% and 6%.

Persons: Zimmer, Johnson, Jeff Johnson, Mariam Sunny, Sriraj Organizations: Zimmer Biomet Holdings, Abbott Laboratories, Baird Equity, Thomson Locations: Indiana, Bengaluru

☆ GE HealthCare raises 2023 profit forecast as supply chain woes ease
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

July 25 (Reuters) - GE HealthCare Technologies Inc (GEHC.O) raised its annual profit forecast on Tuesday, after beating quarterly earnings estimates due to easing supply chain issues that had largely impacted electronic components during the pandemic. Johnson & Johnson (JNJ.N) and Abbott Laboratories (ABT.N), which make medical devices like heart stents and implants, surpassed quarterly profit estimates last week as patients underwent their delayed procedures. GE HealthCare on Tuesday reported total quarterly sales of $4.8 billion, in line with analysts' estimates. Of this, $2.6 billion came from sales of imaging devices such as magnetic resonance imaging (MRI) and $839 million from ultrasound devices. The healthcare equipment firm operates four medical device businesses - imaging and ultrasound devices, patient care solutions and pharmaceutical diagnostics - with imaging being the largest.

Persons: Johnson, Khushi, Shailesh Organizations: GE HealthCare Technologies Inc, GE, Johnson, Abbott Laboratories, GE HealthCare, General Electric, Thomson Locations: Bengaluru

Abbott CEO Robert Ford said the great momentum in device and diagnostics sales during the quarter was due to improving market conditions in healthcare. Rival J&J's (JNJ.N) medical device segment also topped estimates, aided by a recovery in demand for medical procedures. Shares of rival medical device makers Medtronic (MDT.N) and Boston Scientific Corp (BSX.N) rose nearly 3%. Abbott clocked quarterly sales for its medical devices at $4.3 billion, with $1.3 billion coming from diabetes device Freestyle Libre, beating analysts' estimates of $4.10 billion. Abbott's adjusted profit of $1.08 per share in the quarter beat analysts' estimates of $1.05.

Persons: Robert Ford, J, Shagun Singh, Abbott, Khushi Mandowara, Pooja Desai Organizations: Abbott Laboratories, RBC Capital Markets, Boston Scientific Corp, U.S, Thomson Locations: Michigan, Bengaluru

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ From a failed $20 billion joint venture to stalled projects, India's dreams of becoming a chipmaking powerhouse are off to a bad start
▼ + stars: | 2023-07-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Foxconn said Monday it's scrapping a $20 billion JV with Indian conglomerate Vedanta to make semiconductors. Other plans to boost India's chipmaking sectors are also progressing slowly. The two companies signed an agreement in February 2022 to form a joint venture, or JV, to manufacture semiconductors in India. Apart from Foxconn abandoning its JV with Vedanta, two other chipmaking ventures are also in limbo. A $3 billion venture under global consortium ISMC — which counts Israel's Tower Semiconductor as a partner — has stalled, as Tower is in the process of being acquired by tech bigwig Intel, Reuters reported on June 1.

Persons: Foxconn, Narendra Modi's, Taiwan's Foxconn, Apple —, Narendra Modi, —, hasn't, Rajeev Chandrasekhar, editorializing abt, Modi Organizations: Vedanta, Indian, Morning, Apple, JV, Hai Technology Group, Taiwan Stock Exchange, Taiwan Semiconductor Manufacturing Company, ISMC, Semiconductor, Intel, Reuters, Micron, JV Vedanta, India Locations: India, Taiwan, China, Gujarat, Taiwan Straits, Singapore, Indias

☆ Wall St Week Ahead As earnings loom, investors weigh recession resilience
▼ + stars: | 2023-07-07 | by ( David Randall | ) www.reuters.com time to read: +5 min

The financials sector is down 2%, while energy is nearly 9% lower. These unloved sectors are growing attractive to investors increasingly torn over whether a long-feared U.S. recession will ever materialize. Quincy Krosby, chief global strategist for LPL Financial noted a "tug of war" in the market over the likelihood of a recession. The healthcare sector trades at a forward price-to-earnings ratio of 17.6, well below the 20.1 ratio of the broad S&P 500. Yet a continued rally in megacaps will likely stretch their valuations further, prompting some investors to rotate toward healthcare and financials, LPL Financial's Krosby said.

Persons: Goldman Sachs, Quincy Krosby, Sameer Samana, Max Wasserman, Financials, Tom Ognar, Morgan Stanley, John Quealy, Financial's Krosby, David Randall, Megan Davies, Michelle Price, Richard Chang Organizations: YORK, Global, BofA, Commerce Department, LPL Financial, Reserve, Wells, Wells Fargo Investment Institute, FINANCIALS, Miramar Capital, Abbott Laboratories, Allspring Global Investments, LPL Financial Holdings Inc, Trillium Asset Management, Russell, Thomson Locations: U.S, BlackRock, Wells Fargo, megacaps

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