St. Jude Falls On Sales Drop, Possible Warning Letter
St. Jude Medical (STJ) shares fell after it reported third-quarter revenue dropped and warned investors that the FDA may soon issue a warning letter regarding one of its plants. The medical device maker said third-quarter revenue fell 4% to $1.33 billion, below estimates of $1.34 billion, as sales in Europe decline while governments tighten up coverage as part of their austerity measures. Earnings rose 6.4% to 83 cents per share, topping analyst
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