EDT Cardinal Health stock drops 19% after $6.1 bln Medtronic deal; updated 2017 guidance Want to see how this story relates to your watchlist? Just add items to create a watchlist now: S&P 500 Index (SPX) Add CAH MDT SPX Cardinal Health Inc. /quotes/zigman/135665/composite CAH -11.54% shares dropped 19.3% in premarket trade Tuesday after the company said it had agreed to a $6.1 billion deal for certain Medtronic /quotes/zigman/45845333/composite MDT -0.04% businesses and updated its 2017 guidance. The company now expects fiscal 2017 earnings per share to come in at the bottom of earlier guidance of $5.35 to $5.50, compared with the FactSet consensus of $5.42. Cardinal Health attributed the guidance to generic deflation in its pharmaceutical business. http://christianrichardsonplus.accessnetwork.us/2017/04/19/what-you-need-to-know-about-convenient-plans-for-online-training-for-selection-interview/Cardinal Health expects the Medtronic deal, which is for the company’s patient care, deep vein thrombosis and nutritional businesses and should close in the first quarter of fiscal 2018, to add at least 21 cents to EPS that year. Still, Cardinal Health expects EPS to be flat to down mid-single digits for fiscal year 2018, due to “several company-specific discrete items” that it did not specify and generic deflation. The Medtronic businesses encompass 23 product categories and include brands used in nearly every U.S. hospital, Cardinal Health said, with the businesses bringing in $23 billion in revenue for 12 months through October 2016.
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You could have responded to those pressures with a more aggressive restructuring of the financial-regulatory structure of the country without some of the particular provisions that arent well designed and were included for political rather than financial-regulatory reasons, he said in the Bloomberg interview. If confirmed by the Senate, Quarles would be the first ever Fed supervision chief. Dodd-Frank created the position in 2010, though former President Barack Obama never nominated anyone to fill it. Trump officials have been interviewing candidates since late last year, before the president took office. The choice had been bogged down by a lack of agreement among the presidents advisers and industry lobbying, people familiar with the matter have said. General Electric executive David Nason, who had been National Economic Council chief Gary Cohns favored pick, withdrew his name in early March. Other candidates who had emerged since then included Washington attorney Thomas Vartanian and Hal Scott, a Harvard Law School professor and noted critic of regulation. The Fed vice chairman sits on the central banks seven-member board of governors, meaning the appointee gets a vote on interest rates. Quarles would probably be an advocate for rule-based monetary policy, in which rate decisions are formulaic and tied to changes in inflation, employment and other economic data.
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