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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

New rules imposed in February force infant formula makers to invest heavily to re-make, test, certify and re-register their products for China, before potentially conducting new marketing campaigns. “The new standard requires higher product quality as well as stronger manufacturing techniques which are expected to eliminate many small-to-medium-size players,” said Quinn Mai, analyst at Euromonitor International, which estimates China’s infant formula market will fall 12.5% to $21 billion by 2025 due to shrinking demand. China's National Health Commission (NHC) cited infant safety when announcing the latest rules. Celia Ning, director at the nutrition research institute of formula maker Junlebao, said the registration process could "easily" take a year. Another, Fonterra (FCG.NZ), said it was progressing through the re-registration process but that infant formula made up a relatively small part of its China business, with declining birth rates and regulation driving industry consolidation.

Persons: ”, Quinn Mai, Jane Li, Li, Celia Ning, Junlebao, Ning, SAMR, Nestle, Marius Zaharia Organizations: Euromonitor, Health Commission, NHC, State Administration, Market, “, Unicef, Companies, Abbott Laboratories, Reuters, New Zealand's Ministry, Primary Industries, Milk, Global, Nestle, Danone, HK, “ Companies, Thomson Locations: HONG KONG, China, Auckland, “ Beijing, India, U.S, Hong Kong, Beijing, Lincoln

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Ford, Wayfair, Coinbase, Disney, PayPal & more
▼ + stars: | 2023-05-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Barclays reiterates Tesla as overweight Barclays said the stock is well positioned for more gains. "The dominant narrative ahead for Tesla is one of growth, with expectations for significant volume growth and share gains in the years ahead." Roth MKM upgrades Constellation Brands to buy from hold Roth MKM said it sees the company accelerating market share gains. "As weather warms, we expect the share gains for Modelo Especial and Corona to accelerate. Morgan Stanley upgrades Medtronic to overweight from equal weight Morgan Stanley said in its upgrade of Medtronic that it's turning an operational corner. "

We're initiating a position in GE Healthcare (GEHC), buying 325 shares at roughly $79 each. GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions. GE Healthcare is one of the global leaders in Precision Diagnostics with an industry-leading injectable pharmaceutical portfolio in contrast media and molecular imaging. GE Healthcare is one of a few companies that offer a full suite of products and solutions to support patients. GEHC YTD mountain GE Healthcare YTD performance Analysts see GE Healthcare growing EPS to $4.33 in 2024, about a 15% increase from this year's outlook.

The Bronx resident said that by February, after a year of two PediaSure drinks per day, her grandson was still short for his age and had become "so overweight" that she stopped buying the drinks. Noriega dismissed PediaSure as "just a flavored sugar and milk-based drink that contains vitamins, which is not a cure for shortness." She said also that Abbott "knows from its own studies that its Clinically Proven Claim is false and misleading." PediaSure is part of the Abbott Park, Illinois-based company's pediatric nutritional segment, which also includes Pedialyte and Similac. The case is Noriega v Abbott Laboratories, U.S. District Court, Southern District of New York, No.

☆ Billionaire rivals Elon Musk and Jeff Bezos showed up as VIPs at the F1 Grand Prix in Miami — take a look
▼ + stars: | 2023-05-07 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +1 min

Elon Musk visited the Oracle Red Bull Racing team on Saturday ahead of the F1 Grand Prix in Miami. X Æ A-12, his three-year-old son, accompanied him. When he was named Time Magazine's Person of The Year in 2021, his son was with him on stage. X was also seen running around Twitter's office in San Francisco after his father took over the company, per The Washington Post. Musk celebrated his son's birthday on May 4 – with X turning three years old – and shared a rare intimate image of his son looking at presents: "May the 4th be with you."

☆ Zimmer Biomet raises annual forecasts on knees and hips unit strength
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of medical implants maker Zimmer Biomet is seen at a plant in Winterthur, Switzerland, November 16, 2018. REUTERS/Moritz HagerMay 2 (Reuters) - Zimmer Biomet Holdings Inc (ZBH.N) raised its annual sales and profit forecasts on Tuesday, banking on strong demand for its knees and hips products amid a sustained recovery in surgical procedures in the United States. Shares of the Indiana-based medical device maker rose 3.72% to $144 before the bell, also buoyed by better-than-expected first-quarter results. Zimmer Biomet's upbeat outlook comes after several medical device makers, including Stryker Corp (SYK.N) and larger rival Abbott Laboratories (ABT.N), raised their forecasts as easing staffing shortages at hospitals aid a recovery in medical procedures. The medical device maker's revenue rose 10% to $1.83 billion in the first quarter, beating analysts' average estimates of $1.70 billion.

☆ Elon Musk may have shared his alternative account on Twitter where he appears to tweet as his 2-year-old son: 'I will finally turn 3'
▼ + stars: | 2023-04-24 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elon Musk may have shared on Monday his alternative account on Twitter. Elon Musk may have shared his alternative account on Twitter where he appeared to tweet as his two-year-old son. Elon Musk's Twitter profile, showing his alternative account. Screengrab of Elon Musk's Twitter profile. Musk didn't immediately respond to a request for comment from Insider about his alternative account.

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The Dow Jones Industrial Average (.DJI) fell 79.62 points, or 0.23%, to 33,897.01; the S&P 500 (.SPX) lost 0.35 points, or 0.01%, at 4,154.52; and the Nasdaq Composite (.IXIC) added 3.81 points, or 0.03%, at 12,157.23. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.8%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. The S&P 500 posted 16 new 52-week highs and one new lows; the Nasdaq Composite recorded 59 new highs and 123 new lows.

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.7%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. Shares of Western Alliance Bancorp (WAL.N) surged 23% after the company posted stronger-than-expected earnings, helping lift the SPDR S&P Regional Banking ETF (KRE.P) 4%. The S&P 500 posted 15 new 52-week highs and one new low; the Nasdaq Composite recorded 48 new highs and 111 new lows.

Abbott is the second major company to signal a recovery in medical device sales. Medical devices - Abbott's largest segment - clocked an 8.5% rise in sales to $3.90 billion, with $1.2 billion coming from glucose monitoring device Freestyle Libre. I don't think it's a bolus of backlog," Abbott CEO Robert Ford said about the recovery in medical device sales. The stronger outlook for its non-COVID business was the main takeaway as investors had priced in a fall in COVID testing sales, J.P. Morgan analyst Robbie Marcus said in a note. Abbott lowered its outlook for COVID testing sales this year to $1.5 billion from the $2 billion it forecast in January.

☆ Abbott beats profit estimates on strong medical device sales
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Abbott Laboratories (ABT.N) on Wednesday reported quarterly profit above expectations, driven by sales of its diabetes care devices and an improved demand for other devices due to a resumption in non-urgent medical procedures. Excluding one-off items, the company reported a profit of $1.03 per share for the first quarter ended March 31, higher than the average of analysts' estimates of 99 cents per share, according to Refinitiv IBES data. The healthcare giant retained its adjusted profit forecast for this year at $4.30-$4.50 per share, as it expects its non-COVID-testing-related revenue to offset its testing kit sales. Abbott cut its COVID-testing-related sales forecast to $1.5 billion from $2 billion earlier. Reporting by Leroy Leo and Khushi Mandowara in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Futures retreat as Treasury yields rise, Tesla slides
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +3 min

Netflix Inc (NFLX.O) slipped 1.6% after the video-streaming pioneer beat Wall Street earnings estimates for the first quarter but offered a downbeat forecast. ET (1800 GMT), and investors will scrutinize it for impact on the recent banking crisis on economic activity. ET, Dow e-minis were down 165 points, or 0.48%, S&P 500 e-minis were down 25.5 points, or 0.61%, and Nasdaq 100 e-minis were down 120.75 points, or 0.92%. Western Alliance Bancorp (WAL.N) rallied 15.5% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis. Shares of banks First Republic Bank (FRC.N), Zions Bancorporation (ZION.O) and Pacwest Bancorp (PACW.O) rose between 1.1% and 4.1% in premarket trade.

☆ Abbott's medical device sales recovery aids quarterly profit beat
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] Boxes of Abbott's heart stents are pictured inside a store at a hospital in New Delhi, India, April 27, 2018. REUTERS/Adnan AbidiApril 19 (Reuters) - Abbott Laboratories (ABT.N) reported quarterly profit above expectations on Wednesday, underpinned by sales of its diabetes care devices and an improved demand for other devices due to a resumption in non-urgent medical procedures. The upbeat sales of Abbott's medical devices mirror a trend seen by rival Johnson & Johnson (JNJ.N), which also posted better-than-expected sales for the business on Tuesday. Sales of medical devices - Abbott's largest segment - grew 8.5% to $3.90 billion, of which $1.2 billion worth revenue was clocked in by glucose monitoring device Freestyle Libre. Abbott, which witnessed first-quarter sales worth $730 million in global COVID-19 test kits, slashed its annual revenue forecast for these devices to $1.5 billion from $2 billion.

☆ Earnings from Club consumer, health and bank stocks will be our main focus in the week ahead
▼ + stars: | 2023-04-15 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Corporate earnings won't have to share the spotlight with major inflation data in the week ahead as they did during this past week's up-and-down market. From Morgan Stanley, we suspect Friday's bank earnings foreshadow a good release. This past week, we spoke about the importance of listening to what industry players aside from those you're invested in as a way to analyze the competitive landscape. Here are some of those other earnings reports and the economic numbers out in the week ahead. Club trades of the week We made just one trade this past week, in a market that was overbought , purchasing 25 shares of Palo Alto Networks (PANW).

☆ How TikTok became a 'gold mine' for dancers looking to get discovered and changed the way they make money
▼ + stars: | 2023-04-07 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +11 min

"This app is a gold mine for artists like me who are still looking for their big break," Dharmapuram said. As TikTok has ascended, popular artists from Dua Lipa to Lizzo have integrated TikTok dances into their promotional strategies and seen their songs go viral. TikTok creators, professional dancers, choreographers, and dance companies who spoke with Insider said the app had changed the way they choreographed, helped them earn more money, and given them access to career opportunities they otherwise wouldn't have had. TikTok has also given dance companies and agents access to talent they otherwise wouldn't have known about. Even dance companies like American Ballet Theatre have gotten on the bandwagon.

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