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Dollar's Strength Exposes Device Export Weaknesses
The strengthening of the U.S. dollar could spell trouble for exporters of medical devices. It's already showing in some of the strongest medical device firms. St. Jude Medical cut its fourth-quarter and fiscal 2009 outlook this week, reports CNNmoney.com. Its revenue boost from overseas sales because of a positive foreign-exchange rate is about to even out.Jeffries and Co. thinks the firm could still have trouble meeting its new guidance.
December 3, 2008
1 Min Read
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Its analysts believe that SMJ is the weakest of all cardio companies because of its reliance on foreign currency boost.On a positive note, most analysts have likely already factored in the changing exchange rates. They seem optimistic about the company's ability to continue to see profits.
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