
The Europe continues to trudge through an economic recession, U.S. companies are looking to minimize their risk by moving their cash reserves.
Device makers are no exception. Medtronic (NYSE:MDT), which generates about a quarter of its revenue, recently reported that it’s actively transferring its cash out of at-risk countries to shield them from the distant possibility of a collapsing euro.
"We continue to work with every country in Europe to ensure our receivables are being paid. These are normal ongoing procedures to minimize risk, and we believe adequate in the circumstances," Medtronic spokeswoman Amy von Walter told Reuters.
Hedging software maker Fireapps conducted a survey of 800 corporation last month, finding that 88% are preparing for a possible end of the euro, the news service reported.
Cambridge Heart doubles shares
Cambridge Heart (NSDQ:CAMH) shareholders approved an amendment to double the numver of issued shares of common stock from 250 million to 500 million.
Read more
GPOs: Teleflex lands central venous catheter contract with HealthTrust Purchasing
Teleflex (NYSE:TFX) landed a contract with HealthTrust Purchasing Group for central venous catheters, effective June 1.
Read more
- 3M Co. (NYSE:MMM): Citigroup lowers price target from $95 to $89, maintains "neutral" rating
- Insulet (NSDQ:PODD): Cannacord Genuity maintains "buy" rating and $27 price target
- Integra LifeSciences (NSDQ:IART): Bank of America Lynch raises price target from $36 to $40, maintains "neutral" rating
- Intuitive Surgical (NSDQ:ISRG): Stifel Nicolaus raises price target to $570
- Symmetry Medical’s (NYSE:SMA): Benchmark initiates coverage with a "hold" rating and price target of $10