Abbott (ABT) Stent Slowdown, Bad For Johnson & Johnson (JNJ) And Boston Scientific (BSX)

Health and Healthcare

Published: December 4, 2007 6:28 pm

Abbott Labs (ABT) which just launched a new stent product, Xience V, has laid off 1,200 people because of slowness in the stent market. Stranger than fiction. According to MarketWatch, Abbott says it expects to "take a 25-30% market share in 2008." But, of course, it looks like they miscalculated by employing all of those people in the first place.

No matter how wrong-headed that Abbott seems, it is bad news for the two incumbents in the stent business, Johnson & Johnson (JNJ) and Boston Scientific (BSX). BSX is already struggling with falling operating income and a tremendous debt load.

Douglas A. McIntyre

In 20 Years, I Haven’t Seen A Cash Back Card This Good

After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.

A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.

Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.