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Die Antitrust-Vorladung, die in den letzten Monaten auf dem Kurs von Stryker lastete scheint jetzt langsam ein Ende zu finden... Stryker CEO: Scope Of DOJ Subpoena 'Has Been Narrowed' 07-20-06 06:43 PM EST The scope of a recent U.S. Department of Justice antitrust subpoena issued to orthopedic products company Stryker Corp. (SYK) has been "narrowed," Stryker's chief executive said late Thursday. Stryker, along with multiple rivals in the orthopedics sector, announced last month that it had received a Justice Department subpoena requesting several years worth of documents regarding possible federal criminal and antitrust-law violations. Speaking on a call with analysts following Stryker's second-quarter earnings release, Stephen P. MacMillan, Stryker's president and chief executive, offered a "modest update" on the scope of the government's probe. "We're actually pleased to tell you that the scope of this recent subpoena has been narrowed," MacMillan said. Asked about the matter further, MacMillan said Stryker recently learned that the probe had been narrowed either in terms of product lines or geography. He said he did not know whether this was a Stryker-specific development or an industry development. Biomet Inc. (BMET), Zimmer Holdings Inc. (ZMH), Smith & Nephew PLC (SNN) and Johnson & Johnson (JNJ) orthopedic unit DePuy Inc. have also reported receiving Justice Department antitrust subpoenas. On a call with analysts June 28, following Biomet's fiscal fourth-quarter earnings release, Biomet interim Chief Executive Daniel P. Hann called the subpoena Biomet received "very broad," and said the company doesn't know specifically what the investigation is about. "The subpoena does not signal anything other than an investigation into price and bidding in our industry," Hann said on that call. Orthopedics companies in early 2005 reported receiving a separate batch of Justice Department subpoenas regarding a probe of consulting or professional- services agreements between companies and orthopedics surgeons. It isn't clear whether that probe is linked to the most recent subpoenas. Stryker shares were recently up 3%, or $1.30, to $44.50 in after-hours trading, according to Inet. Shares closed down 2.4% at $43.20 during Thursday's regular session. Stryker reported after the closing bell Thursday second-quarter earnings of $ 213.9 million, or 52 cents a share, up from $177.8 million, or 43 cents a share, in the year-earlier period. Analysts surveyed by Thomson First Call on average projected earnings of 51 cents a share in the quarter. - By Jon Kamp; Dow Jones Newswires; 312-750-4129; jon.kamp@dowjones.com |
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| Autor (Datum des Eintrages): | spaceistheplace (26.07.06 13:54:37) |
| Beitrag: | 2 von 456 (ID:23063284) |
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