Medtronic couldn’t quite keep pace with investors’ expectations during its second quarter. Revenue was up 14 percent, the company reported, but a legal charge from a patent dispute deflated the company’s profits below Wall Street forecasts, the Associated Press reports. CEO Bill Hawkins said the revenue increase reflects the benefit of a “globally diversified product portfolio.” Non-U.S. sales were up 18 percent, compared with a year ago.
Pentair is pulling the plug on its spa and bath business. The Golden Valley company said this morning that it’s agreed to sell that unit of its business to Balboa Water Group in a cash transaction. Pentair plans to use the sale proceeds to pay down debt, it said. CEO Randall Hogan said the sale “enables us to concentrate more fully on growth in our core global pool equipment business.”
Guns! GN’R fans have been waiting for this day since I was in fifth grade. And finally, tonight, Best Buy unveils the band’s first album in 17 years with a listening party at the Fine Line in downtown Minneapolis. “One of the most highly anticipated albums of all time,” “Chinese Democracy” is being sold exclusively at Best Buy beginning Sunday. Fans who pre-ordered the album can bring their receipts tonight to jump to the front of the line. The event starts at 6:30 p.m.
3M has launched a new website to help airport travelers find a little peace and quiet during their next layover. AirportHavens.com is a promotion for the company’s computer privacy filters, which makes monitor screens appear dark when not viewed from a direct angle. The company also said it’s creating an airport haven in Atlanta the week of Thanksgiving, when travelers will find a nook with free wi-fi, snacks, beverages and massages.
Do you have an inside scoop or news tip about a Minnesota company? Spotted something interesting in your RSS reader? Drop Business Agenda a note at dhaugen [at] minnpost [dot] com.