Reuters: Hot Stocks: Australia's Cochlear dives 9 pct after profit warning

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Australia's Cochlear dives 9 pct after profit warning Jun 3rd 2013, 00:10 SYDNEY, June 3 | Sun Jun 2, 2013 8:10pm EDT SYDNEY, June 3 (Reuters) - Cochlear Ltd, the world's biggest maker of hearing implants, fell more than 9 percent at the opening of trade on Monday after it warned its 2013 full-year net profit would fall as much as 18 percent. Australia-based Cochlear said it now expected net profit after tax in the range of A$130 million-A$135 million ($135.3 million-$140.6 million), down from A$158.1 million a year ago, after it was hit by weaker sales in the second half and slower market growth in the United States. Shares in Cochlear last traded at A$58.38, down 9.5 percent, at 0006 GMT.

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