UPDATE 1-Medtronic to spin off patient monitoring, respiratory products businesses – Yahoo Finance

(Adds spinoff details, background)
Oct 24 (Reuters) – Medtronic Inc said on Monday it would spin off its patient monitoring and respiratory interventions businesses into a new company, as it seeks to have a more streamlined portfolio.
The separation, expected to be completed in the next 12 to 18 months, will help the company to also unlock value from the two divested businesses, Medtronic said.
The patient monitoring technology portfolio includes Nellcor pulse oximetry and BIS brain monitoring, while the respiratory interventions portfolio comprises ventilators, airway portfolio and breathing systems.
The two businesses generated about $2.2 billion in the fiscal year ended April 29.
Shares of Medtronic were up 1.2% in premarket trade. (Reporting by Leroy Leo in Bengaluru; Editing by Krishna Chandra Eluri and Maju Samuel)
Related Quotes
Constant Contact's latest survey gauges SMB and consumer sentiment on the holiday season and the threat of a recession.
Wall Street is in for a hectic last week of October as some of the market’s most heavily-weighted companies report financial results and the government releases its quarterly scorecard of the U.S. economy’s health.
The U.S. SEC has filed a legal rebuttal to Ripple’s motion for summary judgment, a day after Ripple took a similar move against the SEC.
A spokesperson for the security company says the laid-off employees aren't expected to become unemployed.
(Bloomberg) — China’s yuan weakened and country’s stocks tumbled to the lowest level since the depths of the 2008 global financial crisis in Hong Kong, a stark rebuke of President Xi Jinping’s move to stack his leadership ranks with loyalists.Most Read from BloombergChina Stocks Slide as Leadership Overhaul Disappoints TradersWall Street Is Heading to Saudi Arabia as US Oil Spat SimmersSunak Edges Closer to UK Leadership as Johnson Drops OutRussian Oil Logistics in Chaos Ahead of Looming Sancti
The Mortgage Bankers Association is expecting a recession to hit in 2023, and expects rates to fall.
The company was named "Federal" Express because the first clients were intended to be the twelve Federal Reserve banks.
(Bloomberg) — Most Read from BloombergChina Stocks Slide as Leadership Overhaul Disappoints TradersWall Street Is Heading to Saudi Arabia as US Oil Spat SimmersRussian Oil Logistics in Chaos Ahead of Looming SanctionsSunak Edges Closer to UK Leadership Prize as Johnson CavesKorean Air Plane Overruns Runway While Landing in PhilippinesThe UK market turmoil triggered by a gilt-linked derivatives strategy is bad news for allocations to everything from private equity to real estate.The volatility l
The agreement, announced on Sunday, will see the two firms investing across performing private credit opportunities in the Asia Pacific region. Mubadala, which manages $243 billion in assets, said in a joint statement it would deploy its capital alongside KKR’s existing pools of capital, including capital from the KKR Asia Credit Opportunities Fund, a $1.1 billion credit investment vehicle KKR closed in May.
Entrepreneurs and executives say that to cope they are buying their own delivery vehicles, pleading with customers for patience and changing the products they sell.
American and Canadian governments provide many of the same types of services for those in retirement, but subtle differences between the two exist.
TOKYO (Reuters) -Japanese policymakers on Monday continued efforts to tame sharp yen falls, including through two straight market days of suspected intervention, but ultimately failed to prop up the currency against persistent dollar strength. The yen's sell-off is hurting the world's third-largest economy by driving already surging import bills and challenges the Bank of Japan's commitment to ultra-low rates in the face of rapid global monetary tightening to combat rampant inflation. The Japanese currency jumped 4 yen to 145.28 per dollar in early Asia trade on Monday, suggesting authorities had stepped in for a second straight day after a similar move by Tokyo on Friday.
The best 5G stocks to invest in will change as smartphone apps, enterprise services and the metaverse develop over time.
These are weird times. More on that, and what else to watch in markets for Monday, October 22, 2022.
(Bloomberg) — A Hong Kong court has issued an order that a Chinese developer’s unit that defaulted on offshore debt be wound up, the first such instance against a major builder during the country’s property-debt crisis and opening the door to more such decisions.Most Read from BloombergChina Stocks Slide as Leadership Overhaul Disappoints TradersWall Street Is Heading to Saudi Arabia as US Oil Spat SimmersSunak Edges Closer to UK Leadership as Johnson Drops OutRussian Oil Logistics in Chaos Ahe
Small cap platform that promised users up to 43% in annual awards puts the brakes on withdrawals and scrubs team from site.
Mortgage applications fell 4.5% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.94%.
Nasdaq Inc has put the brakes on initial public offering (IPO) preparations of at least four small Chinese companies while it investigates short-lived stock rallies of such firms following their debuts, according to lawyers and bankers who work on such stock launches. The stock exchange operator's actions come amid a surge in the shares of Chinese companies that raise small amounts, typically $50 million or less, in their IPO. Douglas Ellenoff, a corporate and securities attorney at Ellenoff Grossman & Schole LLP, said he was informed by the Nasdaq that certain IPOs will not be allowed to proceed "until they determined what has been the aberrational trading activity in certain Chinese issuers earlier this year."
LONDON (Reuters) -A blast of suspected intervention by the Bank of Japan (BOJ) on Monday to boost the yen did little to tame the dollar, while the pound see-sawed as former finance minister Rishi Sunak emerged as the front-runner to be the next British prime minister. The yen hit a low of 149.70 per dollar overnight before being swept to a high of 145.28 within minutes in a move that suggested the BOJ, acting for Japan's Ministry of Finance (MOF), had stepped in for a second day. "The timing should have been good for intervention, with U.S. yields still falling in the wake of the WSJ Fed story Friday."
While higher revenues from the Rig Technologies and Wellbore Technologies segments are likely to have boosted NOV Inc.'s (NOV) third-quarter results, escalation in costs might have played spoilsport.


Leave a Comment