NATICK, Mass. (AP) — Medical device maker Boston Scientific says it swung to a first-quarter loss on restructuring charges and a write-down of the value of its defibrillator business. In January, Boston Scientific announced plans to cut 900 to 1,000 jobs this year to trim costs in the face of limited growth prospects and new taxes related to the health care overhaul. For the first quarter of 2013, the company reported a net loss of $354 million, or 26 cents per share, compared with a profit of $113 million, or 8 cents per share, in the prior-year period.
WOBURN, Mass. (AP) — LogMeIn slid to a loss in the first quarter, as the software company absorbed charges related to a patent dispute and other costs, offsetting a 15 percent jump in revenue. The Woburn company's adjusted results trumped Wall Street estimates, sending its shares up more than 16 percent higher in aftermarket trading yesterday.
WALTHAM, Mass. (AP) — Raytheon , maker of the Patriot missile, said Thursday that its first-quarter profit grew 9 percent as the defense contractor cut costs, and it raised its earnings outlook for the year. Despite a revenue drop, the Waltham-based company earned $488 million, or $1.49 per share, in the three months ending March 31st, compared with $448 million, or $1.32 per share, in the same quarter a year ago.
EVERETT, Mass. (AP) — A host community agreement between Everett and Las Vegas casino operator Steve Wynn calls for Wynn to make $30 million in advanced payments to the city during construction and more than $25 million annually if a proposed casino opens. The agreement also requires Wynn to help with transportation improvements, complete an environmental cleanup at the site of the proposed casino and give hiring preference to Everett residents for construction and permanent jobs.
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Norfolk Police are investigating the cause of death for male found unconscious on the beach.
A first time program in Hampton Roads is distributing holiday meals to military families.
Two weeks before Christmas and 250 local workers are out of a job.