Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Guidant Down after Medical Devices Maker Warns of Lower Revenues

Shares of Guidant (GDT) were trading lower after the medical devices maker said it sees fourth quarter revenues coming in lower than expected.

Bear Stearns, meanwhile, maintained a buy rating on the stock. Analyst Rick Wise said fourth quarter revenues will come in at $649 million, $43 million below his estimates.

The analyst said the miss comes as Guidant was expected to benefit from two key new product introductions - the Tetra coronary stent and Prizm 2 defibrillator. Since these products were supposed to provide positive momentum in the fourth quarter, the company's disappointing showing could raise doubt in investors' minds about the company's ability to meet estimates in 2001, Wise added.

He also said the shares will range trade until more information about competitive issues and product milestones emerge. Shares of Guidant were trading down 5 at 46-5/16.

blog comments powered by Disqus