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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

7/10/12

Mako Surgical Corp. (MAKO)

Mako Surgical was dissected today, down 43.03% at $14.02. The company saw its shares plunge after the medical device maker said it would sell fewer-than-expected surgical robots this year, raising concerns that the company is struggling to find takers for its technology. One surgical robot is Mako's RIO system. The RIO system is a robotic-arm interactive system used for minimally invasive knee procedures. Earlier this year, the company forecasted to sell 52-58 RIO systems, now the company expects to sell 42 to 48 RIO systems. Furthermore, Mako also lowered its full-year outlook for the number of MAKOplasty procedures to 11,000-12,000, compared with its prior view of 11,000-13,000 procedures. Mako Surgical was cut in half today and will have to rely on its surgical robots to put the company back together.

Wolverine World Wide Inc. (WWW)

Wolverine World Wide is a beast today, clawing its way up 6.91% at $40.98. The company backed its full-year forecast, despite quarterly results that missed estimates, as the shoemaker expects its acquisition of Collective Brands' product lines to be more profitable than anticipated. In a conference call with investors, Chief Financial officer Donald Grimes said, "We feel even more confident about delivering true incremental earnings per share in 2013 and 2014 (from the acquisition), at or above the high end of the range previously communicated." Wolverine had earlier indicated that its deal to acquire the Performance and Lifestyle group of products from Collective Brands will add 25 to 40 cents per share to its earnings in 2013. The good news has been enough to keep shares of Wolverine up while the market declined just under 1%.
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