Tandem Diabetes Care (TNDM) on Tuesday said its COO John Sheridan will take over as the CEO of the company, succeeding Kim Blickenstaff on March 1. Blickenstaff will move into a newly created role of Executive Chairman of the Board. The announcement came along with stronger-than-expected fourth quarter results, which sent the stock up during the extended trading session.
The stock continued its upward momentum on Wednesday, gaining 27% during mid-day trading. During Q4, the company swung to a profit of 2 cents per share from a loss of $1.23 per share a year ago.
Southeast Asia-based internet platform Sea Limited (SE) saw its shares gain 22% on Wednesday after reporting fourth-quarter top line that more than doubled from last year. The company also reported steady growth in its e-commerce GMV and revenues, reinforcing the confidence of investors. The guidance also did not fail to surprise investors.
For long, Latin American online trading platform MercadoLibre’s (MELI) performance have been hurt by currency volatility. However, the company showed signs of recovery in the fourth quarter results, which sent the shares up over 17% on Wednesday. Sales rose 20% to $428 million, higher than $404 million expected by analysts. Quarterly loss of 5 cents per share was also narrower than the street projection.
Shares of fitness company Weight Watchers International (WTW) plunged 35% on Wednesday, a day after posting disappointing fourth-quarter revenue and weak outlook. Revenue came in at $330 million, compared to $349 million anticipated by analysts. The 2019 earnings forecast provided by the company also disappointed Wall Street.
Earlier in January, WTW stock had tumbled to a yearly low of $31.58 after brokerage firm JPMorgan downgraded it due to a weak start to its enrollment period.
Palm Beach Gardens, Florida-headquartered construction company Dycom Industries (DY) saw its shares tumble 30% on Wednesday as investors continued to be disappointed with its performance. The stock has tumbled 61% in the trailing 52 weeks. Though it managed to beat fourth-quarter revenue estimates, EPS of 10 cents fell short of the street target.
Medical technology company Inogen (INGN) saw its shares decline over 20% on Wednesday, spurred by disappointing quarterly results. The poor performance added to a bearish report published by Citron Research a few days back.
The massive slowdown in the IPO market continued in the second half as the challenges posed by high inflation and interest rate hikes weighed on investor confidence. Meanwhile, there is
The automotive sector is one of the worst affected by the combination of high inflation and rising interest rates. Consumers have become more cautious and are prioritizing their purchases with
The IPO market has witnessed muted activity this year, and things don’t seem to have improved in the second half. The upcoming public listing of video game technology firm Ultimax