On February 5, 2010, Beckman Coulter (BEC) sent a notice to customers recommending that customers using troponin test kits on DxI systems take certain actions, among them discontinuing use of troponin test kits on DxI if an alternative methodology was available.
The FDA has since indicated that it believes that certain modifications to the company's troponin test kits as used on DxI systems and as used on Access systems were made without obtaining appropriate product clearances from the FDA.
Based upon Beckman Coulter's discussions with the FDA they believe that they will be required to impose further restrictions or conditions on the use of troponin test kits on DxI systems in the U.S., and those conditions will likely include transitioning U.S. DxI customers to some other form of troponin testing until they can obtain clearance from FDA for troponin testing on DxI.
Based upon their discussions with FDA, the company also believes that it is likely that they will be able to continue to provide troponin test kits with appropriate additional notices and precautions to U.S. customers who currently use Access systems for troponin testing.
After this update, shares of Beckman Coulter are trading down about 6%.
Shares of China Southern Airlines (ZNH) are down today after Air China announced that they will be putting capital into Shenzhen Airlines which competes with China Southern.
Currently shares of China Southern are down about 6.5%.
CL King downgraded shares of Chemed (NYSE:CHE) to Neutral from Accumulate today, causing shares to slide.
Currently Chemed is off by about 4.5%.
And KB Home (NYSE:KBH) saw revenues drop 14% to $264 million versus last year's first quarter. The company reported a net loss of $54.7 million for the quarter.
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