TransEnterix (NYSE:TRXC) said today that it plans to pursue a reverse stock split that could see it exchange a single share for as many as 40 shares. Companies often use reverse splits to buoy their share prices. Research Triangle Park, N.C.-based TransEnterix, which makes the Senhance robot-assisted surgery device, set the range on the proposed split […]
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General Electric jumps on Street-beating Q3 results, raised earnings outlook
General Electric (NYSE:GE) shares got a bump in pre-market trading today after the industrial conglomerate posted third-quarter results that beat the consensus forecast and raised its earnings outlook for the rest of the year. Boston-based GE reported losses of -$9.47 billion, or -$1.08 per share, on sales of $23.36 billion for the three months ended Sept. […]
Stryker beats The Street on Q3 earnings, shares drop after hours
Stryker (NYSE:SYK) shares dropped after hours yesterday despite third-quarter results that just topped the consensus forecast. Kalamazoo, Mich.-based company posted profits of $466 million, or $1.23 per share, on sales of $3.59 billion for the three months ended Sept. 30, for a -21.0% bottom-line slide on sales growth of 10.6% compared with Q3 2018. Adjusted to […]
Potrero Medical adds $5.5m
Predictive health company Potrero Medical today filed an SEC Form D/A disclosing the sale of nearly $5.5 million in equity. The amendment the equity offering which made its first sale on June 28. At that time, the offering was for a total of $15 million and, in July, the company announced that it sold $11.7 million […]
Abbott plans $38m Mitraclip plant in Indiana
Abbott (NYSE:ABT) announced yesterday that it plans to spend close to $38 million to open a manufacturing plant for its Mitraclip system in Westfield, Ind. The proposed 120,000-square-foot facility in Westfield’s NorthPoint Industrial Park could cost more than $37.6 million and is slated to employ as many as 477 people by the end of 2024, according […]
Pixarbio CEO Reynolds convicted in $13m investor fraud case
Pixarbio founder & CEO Frank Reynolds reportedly faces two decades behind bars after a jury yesterday convicted him of defrauding investors of nearly $13 million. Federal authorities arrested Reynolds, longtime friend and Pixarbio employee Jay Herod and PixarBio CIO Kenneth Stromsland in April 2018 on securities fraud charges, claiming they misled investors about the opioid substitute […]
Siemens Healthineers closes $1B Corindus Vascular Robotics buy
Siemens Healthineers said it today completed its $1.1 billion buyout of Corindus Vascular Robotics and its robot-assisted device for coronary and peripheral vascular procedures. Last week Corindus shareholders approved the merger, in which the German firm put up $4.28 per common share and $85.60 per Series A convertible preferred share. Today Siemens Healthineers said former […]
Report: Google parent Alphabet eyes Fitbit
Google parent Alphabet (NSDQ:GOOG) reportedly made an offer to acquire Fitbit (NYSE:FIT) in an attempt to work its way into the smartwatch and fitness tracker market. There is not any certainty of a deal as of yet and no financial terms were shared, according to a report from Reuters, which cited “people familiar with the matter.” […]
Orthofix earnings plummet as sales miss projections
Orthofix (NSDQ:OFIX) shares fell in pre-market trading today on third-quarter results that came up short of the consensus forecast, a cut to its bottom-line outlook and the naming of a new chief executive. The Lewisville, Texas-based company posted losses of -$40.5 million, or -$2.14 per share, on sales of $113.5 million for the three months ended […]
Natus Medical gains on Q3 swing to black
Natus Medical (NSDQ:NTUS) swung from red to black with its third-quarter results and raised its earnings outlook for the rest of the year, sending its share price up on Wall Street. The Pleasanton, Calif.-based company posted profits of $8.5 million, or 25¢ per share, on sales of $123.5 million for the three months ended Sept. […]
Obalon treats first patient at weight loss clinic
Obalon Therapeutics (NSDQ:OBLN) said last week that it treated the first patients at its company-owned Obalon Center for Weight Loss in San Diego. The San Diego-based company produces an FDA-approved swallowable, gas-filled intra-gastric balloon for non-surgical weight loss. Obalon said the new center is staffed with physicians specializing in weight loss, along with nutritional counselors and […]