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Stryker (SYK Quote) shares showed a full range of motion Friday.
The company's stock jumped 11%, hitting levels unseen since last fall, after Thursday's quarterly report. The Kalamazoo, Mich., orthopedic device maker met fourth-quarter profit targets but fell short of revenue forecasts. Stryker also issued full-year earnings guidance that due to a lower tax rate came in just ahead of current expectations.
The company's comments were mostly reassuring to investors who had been concerned on a number of fronts. Still, even a bullish analyst who upgraded the stock on Thursday failed to see the rally coming. ...
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