Koninklijke Philips Electronics is a global leader in health technology, focused on improving people's lives through meaningful innovation
The company develops a wide range of products and solutions, including medical devices, diagnostic imaging, patient monitoring systems, and consumer health products. Its commitment to enhancing healthcare and well-being extends into areas such as personal health, connected care, and sustainable development, aiming to deliver integrated solutions that empower both health professionals and patients. Philips combines advanced technologies with deep clinical and consumer insights to create solutions that drive better outcomes and improve the quality of care across various settings.
Philips recalls 90,905 ventilators globally due to software malfunctions affecting patient safety. The FDA warns of serious injury or death if devices are not corrected swiftly.
The Dow Jones Industrial Average is 96 points lower today, pulling back from Friday’s 654-point pop, while the S&P 500 Index and Nasdaq Composite Index sit quietly in the red as well.
Philips shares rose after Q2 2024 results exceeded expectations with €4.46 billion in sales and a 9% increase in order intake. Growth in Diagnosis & Treatment, Connected Care, and Personal Health segments contributed to improved EBITA margins. CEO Roy Jakobs cited strong margins and cash flow improvements.
Index futures trading indicates cautious optimism as traders anticipate a busy week, with a slew of earnings reports, the two-day Federal Open Market Committee meeting starting Tuesday, and Friday’s non-farm payrolls report.
Italy's Agnelli family, through Exor NV, has raised their stake in Royal Philips NV to 17.51%, demonstrating increased confidence in the Dutch medical device manufacturer. This boost from 16.1% in May reflects a strong belief in Philips' potential and management effectiveness, especially following recent legal resolutions in the U.S.
Legal battle ensues between Philips and SoClean post $1.1 billion settlement over CPAP device recall. Lawsuit alleges SoClean's ozone exposure led to injuries. Philips targets DWHP, alleging SoClean as an "alter ego." FDA warns against ozone cleaners.
