Monday, February 11, 2008

Cochlear Stock Down

The stock price of the Australian company Cochlear has sunk after reporting slow sales of implants to China. The world’s biggest hearing implant company saw its shares fall more than 8% to just under $60. The price reached nearly $80 this past fall. Cochlear has a contract to supply more than 15,000 implants to China and Taiwan but fewer than 600 have been sold. Overall, revenue is up nearly 8% due to a 21% jump in sales of a device for less-severe hearing loss called the Baha.

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