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BAXTER INTERNATIONAL INC. Fortune-teller needed.(Finance)(Robert L. Parkinson Jr. )(Brief Article)
Crain's Chicago Business, May, 2004
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One missed earnings target doesn't wreck a reputation. But revise forecasts four times in 15 months, and Wall Street gets testy. That's what ended Harry M. Jansen Kraemer Jr.'s career at the Deerfield medical products maker. Revisions to sales and profit forecasts in 2002 and 2003 drove the stock price down roughly 40%.
Investors cheered when Mr. Kraemer left. His replacement: Robert L. Parkinson Jr. A few fixes are needed. Some new products haven't panned out. And more cost-cutting is in the offing-layoffs are already under way. The next challenge will be issuing forecasts Wall Street can believe. Another question: How about a breakup?
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