In early trade today there were some strong moves, particularly in the technology and biotech sectors. Here is a short brief of this morning’s gainers and losers.
eHealth Inc beat forecasts after the market closed yesterday and jumped 21.5% in early trade. After reporting a loss in the same quarter of 2015, it has now reported a first-quarter net income of $18 million. This smashed all analyst forecasts, of 40 cents per share.
SkyWest (SKYW) reported a jump in net income to $27 million for Q1 in 2016, compared to $10 million in the same quarter last year. Stating the improvement in operating margin was primarily due to new aircraft added to profitable flying contracts.
Chip Childs, SkyWest, Inc. Chief Executive Officer, commented on the report saying “The demand for our service and aircraft is strong and we remain focused on continuing to drive incremental improvement in fleet economics to create long-term value for our stakeholders.
On the losing side, Bottomline Technologies (EPAY) reported a loss of $4.2 million for the first quarter of 2016. EPAY posted revenue of $86.2 million in the period, falling short of the consensus of analysts. The stock price was down near 22% in early trade.
Seagate (STX) fell 12% after market opened with a miss on its results. Revenue at Seagate declined 22% year over year to $2.595 billion. CEO Steve Luczo said “Our quarterly results fell short of our expectations as a result of several near-term demand factors. Accordingly, we are aggressively working to position Seagate to respond to new demand levels and are committed to ongoing financial discipline.”