S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

Boston Scientific’s (BSX) Bleak Outlook

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The stent business continues to dog Boston Scientific (BSX) numbers. Several studies have shown that the devices can cause blood clots.

BSX sales for the third quarter of 2007 were $2.048 billion as compared to $2.026 billion for the third quarter of 2006. Worldwide sales of the Company’s drug-eluting coronary stent systems for the third quarter of 2007 were $448 million as compared to $572 million for the third quarter of 2006.

Reported net loss for the third quarter of 2007 was $272 million, or $0.18 per share. Reported results for the third quarter of 2007 included acquisition- and divestiture-related charges (after-tax) of $435 million, or $0.29 per share.

The company’s forecast was gloomy. BSX estimates net sales for the fourth quarter of 2007 between $2.05 billion and $2.15 billion. Adjusted earnings — excluding charges related to acquisitions, divestitures and restructuring, and amortization expense — are estimated to be in a range of $0.14 and $0.19 per share. The Company estimates a net loss on a GAAP basis between $0.09 and $0.02 per share.

No recovery here.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Fed’s Rate Freeze Could Sting for Social Security Recipients
Maurie Backman |

Fed’s Rate Freeze Could Sting for Social Security Recipients
'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s
Jeremy Phillips |

'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s

Continue Reading

Douglas A. McIntyre |

Boston Scientific Loses Heart

Boston Scientific (BSX) reported that sales for the first quarter of 2007 were $2.086 billion as compared to $1.620 billion…
Douglas A. McIntyre |

10 CEO’s That Need To Leave in 2008: James Tobin of Boston Scientific (BSX, BIIB, JNJ, ABT)

James Tobin, the CEO of Boston Scientific (NYSE:BSX) is likely to find himself in front of the shareholder firing squad…
Merck Earnings Reflect Huge Increase in Keytruda Sales, Outlook Raised for FY18
Paul Ausick |

Merck Earnings Reflect Huge Increase in Keytruda Sales, Outlook Raised for FY18

Pharmaceutical maker Merck beat adjusted earnings estimates but missed slightly on revenues when it reported Q3 results Thursday morning. Investors…
Douglas A. McIntyre |

DH Horton (DHI) Rallies On Results

DH Horton (DHI) reported a net loss for its fourth fiscal quarter ended September 30, 2007 of $50.1 million, or…
Douglas A. McIntyre |

Micron: Half Empty or Half Full (MU)

Micron Technology (NYSE:MU) earnings are out for its quarter-end August 30, 2007: For the fourth quarter of fiscal 2007, the…
Douglas A. McIntyre |

Dynegy Reports; Is It Good Enough?

Dynegy Inc. (DYN-NYSE) reported EPS of $0.03 on stronger-than-expected weather-driven demand and higher power prices; up from -$0.01 last year…
Douglas A. McIntyre |

BRL: Barr the Windows

By William Trent, CFA of Stock Market Beat Large Cap Watch List member Barr Pharmaceuticals (BRL) reported a GAAP Loss:…
Douglas A. McIntyre |

Symantec (SYMC) Hammered On Poor Numbers

Symantec (SYMC) was forecast to post a fiscal second-quarter earnings of 26 cents a share on revenue of $1.39 billion…
Paul Ausick |

Merger Costs Hammer Dollar Tree Earnings, Boost Revenues

Dollar Tree reported mixed second-quarter 2015 results before markets opened Tuesday morning, due to acquisitions-related costs.

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618