Update: Smith & Nephew Confirms Merger Talks With J&J's Orthopedics Unit Have Ended, Cuts 2026 Revenue Outlook

MT newswire2026/11/04 09:07

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05:07 AM EST, 11/04/2026 (MT Newswires) -- (Update to add 2026 revenue guidance change, Q3 revenue in the third and fourth paragraphs, respectively.) Smith+Nephew (SNN) has ended discussions with Johnson & Johnson (JNJ) about a potential merger with the US company's orthopedics business earlier this year, the company said Wednesday. The company did not disclose why the discussions ended but said it would continue to explore strategic options for the business. The company said it also trimmed its 2026 revenue growth guidance to around 3% on an underlying basis from around 4%. Smith+Nephew said its revenue for Q3 was $1.55 billion, up from $1.50 billion a year earlier. Analysts polled by FactSet expected $1.56 billion.

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OPEC's monthly report shows that Saudi Arabia's average daily crude oil production in October rose to 10.56 million barrels, just several hundred thousand barrels lower than the pre-war level in February and slightly above its quoted limit under the OPEC framework. Iraq's daily output in October also reached approximately 4.9 million barrels, a new high since the outbreak of war. Meanwhile, after the UAE exited OPEC and began competing in the market independently, both the UAE and Saudi Arabia recently slashed their official December cargo prices for Asian buyers, intensifying the competitive landscape.

华尔街见闻•2026/11/11 17:31