Health and Healthcare

Abbott's (ABT) Hammers Boston Scientific (BSX)

Boston Scientific (BSX) has been the leader in sales of stents, those little mess tubes that keep arteries open. Recent studies show that the devices are more dangerous than most doctors had believed. That has hurt sales and the BSX shares.

Now Abbott (ABT) is taking a stent of its own (the Xience) to the FDA. Some data show it may be better than the flagship Boston Scientific product call Taxus. If further review bears this out, BSX is in for another beating.

A JP Morgan analyst was recently quoted by The Associated Press as saying "The data presented by Abbott does show that Xience is statistically superior to Taxus, which is the market leader."

BSX shares are down 2.5% today to $12.37. If the FDA loves the new Abbott product, the stock may go lower.

Douglas A. McIntyre

Is Your Money Earning the Best Possible Rate? (Sponsor)

Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.

However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.

There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.