EU HEALTHCARE: Boston Scientific (BSX: A3/A-/A-) Product Discontinuation
May-28 12:01
• Discontinuing worldwide sales of ACURATE Aortic Valve Systems.
• No longer seeking approval with US FDA or in other geographies.
• Still expects to achieve 2Q and FY25 sales and earnings guidance.
• Is NOT reaffirming the GAAP guidance for the above.
• Cardiology makes up 65% of projected 2025 sales.
• Given the fact that it still expects to meet 2025 targets (albeit non-affirming actual GAAP numbers) we would say that this is more of an equity story for now but does raise concerns in a key area for the firm.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSY FUTURES: BLOCK: Jun'25 2Y/10Y Steepener
Apr-28 11:56
- Steepener cross posted 0740:00ET:
- +11,000 TUM5 103-25.12, buy through 103-24.88 post time offer vs.
- -6,500 TYM5 111-12.5, post time bid
PIPELINE: Corporate Bond Roundup: Alphabet & 2 South Korean Firms on Tap
Apr-28 11:47
- Date $MM Issuer (Priced *, Launch #)
- 04/28 $Benchmark Alphabet 4pt 5Y +55a, 10Y +70a, 30Y +90a, 40Y +100a; also issuing in Euro: 4Y, 8Y, 12Y, 20Y and 29Y
- 04/28 $Benchmark Posco Holdings 5Y +180a, 10Y +200a
- 04/28 $Benchmark Koomin Bank 3Y +77.5, 5Y +82.5
- $750M Priced Friday, $32.4B total for week
- 04/25 $750M *ADB tap 2028 SOFR+36
EURIBOR OPTIONS: Mid-curve Put Spread Seller
Apr-28 11:34
From a little earlier: 2RZ5 97.25/97.00 put spread, paper sells for 2.75 on 10k.
