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What: Shares of orthopedic equipment maker Wright Medical Group
So what: The company just reported a loss in the third quarter on weak sales and lowered both top- and bottom-line guidance for the coming quarter. The loss was expected; the slow revenue and timid outlook weren't.
Now what: Wright is running under brand-new CEO Bob Palmisano, whose predecessor resigned under scandalous circumstances after playing fast and loose with a government settlement. Wright is now somewhat leaner and meaner with smaller expenses and a reduced product portfolio. Is that good enough to pull off a turnaround while fighting off much larger, better-known, and largely scandal-free ortho experts Stryker
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