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ET The Biggest Loser: Cardinal Health Tumbles 12% By Ben Levisohn Cardinal Health ( CAH ) tumbled to the bottom of the S&P 500 today after agreeing to buy Medtronics ( MDT ) medical supplies business for $6.1 billion and offering disappointing guidance . Getty Images Cardinal Healthdropped 12% to $72.39 at 4:30 p.m. today, while the S&P 500 declined 0.3% to 2,342.19. Medtronic finished little changed at $80.33. Leerinks David Larsen and Matt Dellelo argue that a great deal couldnt offset the dreary guidance: This morning CAH lowered FY17 expectations saying EPS is now expected to be at the low end of the guided range and the company announced an acquisition of Medtronics Patient Care, Deep Vein Thrombosis and Nutruitional Insufficiency businesses for $6.1B. Management also gave preliminary FY18 and FY19 guidance, where EPS is expected to be flat to down mid-single digits and up high single digits, respectively, both of which are below Street expectations. While the deal looks strategically and financially sensible, it is likely not enough to offset the ongoing generic deflation headwinds in Pharmaceutical. Cardinal Healths market capitalization fell to $22.8 billion today from $25.8 billion yesterday.

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(AP) A federal judge in Louisiana who took medical leave for treatment of severe alcoholism said Friday there are no grounds to challenge cases resolved in her court. “I’m not going to downplay the alcohol problem,” U.S. District Judge Patricia Minaldi said in interview with KPLC-TV (http://bit.ly/2oHONrQ ) and The American Press of Lake Charles (http://bit.ly/2nNsgdU ). But, she added, proceedings were halted “if there ever was an indication” that she was unable to handle her duties due to alcohol. “There have been thousands and thousands of cases that I have handled where that was never even an issue,” Minaldi said. “I’m sure some will be challenged. Anyone can file a lawsuit regardless of its merit. interview skills questionnaireBut, I don’t believe for a second that any of those cases, meritoriously, will be challenged.” Minaldi’s unusual behavior on the bench preceded her mysterious removal from a string of cases. She was ordered to get treatment for alcoholism so severe that a colleague believes she cannot take care of herself, according to court records released Thursday. She did not rule out a return to the bench someday, but said she is weighing her options.

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