Medical device maker Medtronic on Tuesday reported a solid fiscal Q2, but its profit margins faced head winds as the company dealt with macroeconomic and regulatory challenges. Shares fell a fraction. For the quarter ended Oct. 25, Medtronic (MDT) made 91 cents a share, up 3.4% from the year-earlier quarter and a penny above analyst consensus. Sales rose 2.4% to $4.2 billion, in line with consensus. The company reiterated its guidance for the
Consumer electronics retailer Best Buy says it’s willing to take a hit to Q4 profit to beat the competition this holiday shopping season. Best Buy (BBY) warned Tuesday that it will price aggressively this quarter to keep pace with rivals such as Amazon.com (AMZN) and Wal-Mart (WMT). “We’re in this to win,” Best Buy CEO Hubert Joly said on a conference call with analysts. “We’re playing to win as opposed to not lose.” The Richfield, Minn.-based
Would acquiring Vodafone be the cure for AT&T’s growth malady? Consider the patient. AT&T’s (T) Q3 revenue rose just 2%, missing views. Sales for its wireless services, its presumed growth engine, also missed, up 3.7%. AT&T’s annual revenue hasn’t risen more than 4% since 2007. Now mull the widely speculated prescription: buying Vodafone (VOD), after the U.K. company completes the sale of its 45% stake in Verizon Wireless for $130 billion to