Stryker: 4Q Earnings Snapshot
KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Tuesday reported fourth-quarter net income of $2.07 billion, after reporting a loss in the same period a year earlier.
The Kalamazoo, Michigan-based company said it had net income of $5.44 per share. Earnings, adjusted for non-recurring gains, were $2.18 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
Spelman board member, husband give $30M to school
ATLANTA (AP) — Spelman College has received $30 million, its largest single gift from living donors, to be used for its new Center for Innovation & the Arts.
The donation, announced Thursday, was made by Spelman trustee Ronda Stryker and her husband, William Johnston, The Atlanta Journal-Constitution reported.
Stryker: 3Q Earnings Snapshot
KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Thursday reported third-quarter profit of $590 million.
The Kalamazoo, Michigan-based company said it had profit of $1.55 per share. Earnings, adjusted for one-time gains and costs, were $1.69 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
Stryker: 2Q Earnings Snapshot
KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Tuesday reported second-quarter net income of $452 million.
On a per-share basis, the Kalamazoo, Michigan-based company said it had net income of $1.19. Earnings, adjusted for amortization costs and pretax expenses, were $1.76 per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
LANSING, Mich. (AP) — Michigan's Strategic Fund has approved projects expected to generate more than $248 million in investment in the state.
The Michigan Economic Development Corp. also says Tuesday that the projects are expected to create more than 1,000 jobs.
Defense contractor Loc Performance Products, medical technology firm Stryker Corp. and a housing partnership are among those receiving funds.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday:
Time Warner Inc., up $1.73 to $97.95
A federal judge cleared AT&T's $85 billion purchase of Time Warner in a major antitrust trial.
H&R Block Inc., down $5.31 to $24.29
The tax preparer said it is preparing price changes that will reduce its profit margins in the current fiscal year.
Stryker Corp., up $4.06 to $166.60
The company said it is not in talks to buy medical device maker Boston Scientific.
Plymouth-based medical device maker Entellus Medical, which went public in 2015, is set to be acquired in a $662 million deal by Michigans Stryker Corp.
Stryker has agreed to pay $24 per share for Entellus, a premium of about 50 percent from Wednesdays closing price. The deal is subject to regulatory approval.
San Antonio wound-care company Acelity LP Inc. hired a president for its international region and a senior vice president for its European operations, the company announced Friday.
Ramesh Subrahmanian will take over as president of the international region on July 17 and will be based in Singapore. He is the former international group president for medical-device company Stryker Corp. He also served as president of Merck & Co.’s Asia Pacific operations.
Apple, PerkinElmer rise; EQT, Seattle Genetics fall
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
PerkinElmer Inc., up $4.16 to $67.73
The company, which sells testing equipment and scientific instruments, agreed to buy Euroimmun Medical Laboratory Diagnostics of Germany.
EQT Corp., down $5.26 to $53.51
The energy company agreed to buy Rice Energy for $6.7 billion in cash and stock.
Novodaq Technologies Inc., up $5.70 to $11.70
The maker of surgical technology is being acquired by Stryker Corp.
Ethics commission investigates Republican representative, RHS grad Knute Buehler
Roseburg High School graduate and state Rep. Knute Buehler, R-Bend, whose name has been floated as a gubernatorial candidate, failed to disclose a payment from a Bend hospital, according to a preliminary report from a state ethics investigation.
Buehler received a $12,500 payment in 2013 for serving on the board of the St. Charles Health System, and failed to report that fact in the Statement of Economic Interest that all elected officials are required to submit under Oregon law, the report said.
Siblings donate $10 million to lynching victims memorial
KALAMAZOO, Mich. (AP) — The children of a late Michigan businessman are donating $10 million to help build a memorial and museum in Alabama dedicated to black lynching victims.
Philanthropists Jon and Pat Stryker have each given $5 million toward the Equal Justice Initiative's $35 million campaign to build The Memorial to Peace and Justice. The group says the memorial honors the 4,075 black people killed by lynching nationwide from 1877 to 1950.
Surgical lighting make closing North Charleston plant
NORTH CHARLESTON, S.C. (AP) — The owner of a North Charleston surgical lighting system manufacturer says it's closing by the end of the year, eliminating 88 positons.
The Post and Courier of Charleston reported (http://bit.ly/2esUGDC ) that Stryker Corp. has told the Department of Employment and Workforce and North Charleston Mayor Keith Summery that the plant will close by Dec. 31
A few employees will work into 2017.
General manager Chad Croasdale said the closing is expected to be permanent.
The owner of a longtime North Charleston maker of surgical lighting systems and other high-tech operating room equipment is proceeding with plans to close the business.
An example of a surgical light made in 2007 in North Charleston at Berchtold, now part of Stryker Corp., which is closing the Hanahan Road plant.File/Staff
Thousands of summer cottages and second homes in Michigan have lost a valuable tax break in recent years amid state Treasury Department audits aimed at cracking down on improper exemptions.
The dragnet has snared a wide range of property owners, from small-time landlords in Detroit to west Michigan billionaires with multi-acre compounds, according to data obtained by The Detroit News.
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