Guidant's profits up but drop in ICD (implantable cardioverter defibrillator) sales affects shares
This article was originally published in Clinica
Executive Summary
Guidant saw its profits go up by 23% in the third quarter to a record $100 million, ahead of expectations. However, this did not stop the market reacting adversely to a 4% unit sales decline in its ICD business. Guidant's shares fell some 14% to $41 on the results last Thursday, but recovered to $48.50 by close of business.