Johnson & Johnson (JNJ) announced Monday that it is recalling 1-Day Acuvue contact lenses sold mainly in Japan and other countries in Asia and Europe. None of the recalled contact lenses were sold in the U.S. or in Canada.

The company said that it received a "limited number" of complaints from Japanese customers of unusual stinging or pain when inserting the Acuvue lenses. The recall started on August 18 and was not immediately announced in the U.S.

Continue reading Johnson & Johnson Recalling Contact Lenses in Asia and Europe

Johnson & Johnson Recalling Contact Lenses in Asia and Europe originally appeared on BloggingStocks on Tue, 24 Aug 2010 10:15:00 EST. Please see our terms for use of feeds.

Continue reading JockStocks: Does a recall reveal a chink in Under Armour's armor?

JockStocks: Does a recall reveal a chink in Under Armour's armor? originally appeared on BloggingStocks on Thu, 30 Apr 2009 13:30:00 EST. Please see our terms for use of feeds.

Engine equipment maker Briggs & Stratton Corporation (NYSE: BGG) continues to struggle with the impact on earnings of a snow engine recall. Thus far in fiscal 2008, warranty expenses for the snow engine recall total more than $20 million in 1Q2008 and an additional $18 million in 2Q2008. Even though net sales increased by 13% to $479 million, the company is still running a half-year operating loss of $15 million due to the negative impact from warranty expenses. To cover the warranty expenses, Briggs & Stratton sold an investment in preferred stock, realizing $25 million in after-tax gains.

Briggs & Stratton 2Q earnings were also negatively affected by higher fixed-production costs but lower production output due to expenses incurred in closing one production facility and opening a new production facility for lawn and garden equipment. A bit of good news was that interest expense for the quarter was down due to lower average borrowing because of inventory reductions.

The company is forecasting FY2008 net income in the $60-$68 million range, with diluted EPS of $1.21-$1.37, if -- and it is a big if -- net sales grow at a rate of 7%-8%. Investors were prepared for the unpleasant earnings news. The stock closed recently at just over $17, with little drop in price as a result of the earnings downturn.

Briggs & Stratton (BGG) still not firing on all cylinders originally appeared on BloggingStocks on Tue, 22 Jan 2008 16:27:00 EST. Please see our terms for use of feeds.

Medical device manufacturer Medtronic Inc. (NYSE: MDT) released 2Q 2008 results last week that inflicted some pain on investors. Total revenues increased by 2%. Sales outside the US increased 12%, but $73 million of that increase was due to currency exchange, not organic growth. Fully one-third of all Medtronic sales now originate outside the US.

CEO Bill Hawkins remains optimistic about "strong growth potential going forward," which is about as much of an admission one will get that the current numbers leave a lot to be desired. The company is focused on growing non-US sales, which is a smart move since Medtronic has already suspended US product shipments in its physio-control division due to unauthorized human bones used in some procedures. More recently, the recall of Fidelis cardioverter defibrillators in the company's largest division caused revenue to plummet by at least $130 million, in addition to $31 million inventory write-off.

On a positive note, the acquisition of Kyphon will begin to contribute to the bottom line in the spinal division sooner than expected, and both the diabetes and ear, nose and throat divisions posted 16% increases in revenue. The company expects final FDA approval for a drug-eluting stent by the end of the calendar year, so look for contributions to the cardiovascular bottom line in 2008.

Medtronic needs some pain relief originally appeared on BloggingStocks on Tue, 27 Nov 2007 14:44:00 EST. Please see our terms for use of feeds.

One million Easy Bake Ovens face recall originally appeared on BloggingStocks on Tue, 06 Feb 2007 10:00:00 EST. Please see our terms for use of feeds.