Boston Scientific withdraws financial guidance given business disruptions related to COVID-19 pandemic

Boston Scientific Corp. said Monday it is withdrawing its financial guidance for the first quarter and 2020, that it provided on Feb. 5, given the uncertainties related to the COVID-19 pandemic, which has caused the deferral of elective medical procedures. “This disruption, as well as others caused by the evolving COVID-19 pandemic and macroeconomic environment, are expected to negatively impact the company’s financial results,” the medical device maker said in a statement. “In addition, given the ongoing uncertainty of the scope and duration of the pandemic, the company is currently unable to estimate those specific impacts.” The stock, which is indicated up about 1% in premarket trading, has shed 32% over the past three months, while the S&P 500 has declined 21.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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