Diamonds and Dogs
Boston Scientific (BSX) performing well. The stent maker is up 3% today and up 30% year to date following better than expected earnings two weeks and an acquisition today. Boston Scientific agreed to acquire VENITI, Inc., a privately-held company which develops and commercializes stents for treating venous obstructive disease. Venous obstructive disease – instances of abnormal, blocked or damaged veins – affects more than 1.1 million people in the United States and Western Europe annually. Boston Scientific has been an investor in VENITI since 2016 and currently owns 25 percent of the company.
Papa John's International (PZZA) has a fight on their hands. The pizza maker is down 4% today and down 50% since last fall as things go from bad to worse. Inappropriate comments and conduct from the founder and CEO, John Schnatter forced the board to fire him in July. Now following disappointing earnings, the former founder and CEO wants back in. John Schnatter still owns 30% of the company, interesting problems and dilemmas.