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Fly News Breaks for March 1, 2017
ABT, ALR
Mar 1, 2017 | 09:36 EDT
Raymond James analyst Nicholas Jansen says that while the annual filing delay is not a headline Alere (ALR) shareholders wanted to see given the company's current battle with Abbott (ABT), the revision just relates to timing, not "bad revenue," and is immaterial in totality relative to a $2.5B revenue base. Alere's annual filing was unlikely to include a full remediation of internal control weakness, so this issue, while disappointing, should not be a surprise, Jansen tells investors in a research note. He keeps a Market Perform rating on the shares. Alere in early trading is down 3%, or $1.27, to $37.03.