were among the worst-performing health-related stocks Wednesday, plunging 25% after the biotechnology company posted first-quarter results that were well below expectations.
The company reported a loss of $26.2 million, or 23 cents a share, on revenue of $90.5 million. Excluding items, the company earned $2.5 million, or 2 cents a share. Analysts polled by Thomson First Call expected earnings of 14 cents a share and revenue of $103.3 million. Last year, PDL posted a first-quarter loss of $83.9 million, or 87 cents a share, on revenue of $38.8 million. Excluding items, the year-earlier loss was $117,000, or less than a penny a share.
Looking ahead, PDL sees full-year adjusted earnings of $8 million to $23 million, or 7 cents to 19 cents a share, sharply below analysts' estimate of 44 cents. The company now sees revenue of $400 million to $430 million, down from an earlier forecast of $405 million to $435 million. Analysts project revenue of $429.1 million. Shares were trading down $7.02 to $20.57.
slumped 11% after the health insurer projected second-quarter earnings below analysts' average forecast. For the first quarter, the company reported earnings of $352 million, or $2.87 a share, on revenue of $4.11 billion. On an adjusted basis, the company posted earnings of $258 million, or $2.11 a share. Analysts expected earnings of $1.88 a share on revenue of $4.1 billion. Last year, the company's first-quarter adjusted earnings totaled $297 million, or $2.24 a share, on revenue of $4.35 billion.
Cigna sees a profit of $1.75 to $1.90 a share for the second quarter and $7.50 to $8 for the full year. Analysts project second-quarter earnings of $1.99 a share and full-year earnings of $8.07 a share. Shares were trading down $11.57 to $93.93.
rose modestly after the company reported better-than-expected first-quarter earnings. The company, a provider of dialysis services, earned $57.5 million, or 55 cents a share, on revenue of $1.16 billion. Analysts expected earnings of 53 cents a share and revenue of $1.14 billion. During the year-earlier quarter, the company earned $56.3 million, or 55 cents a share, on revenue of $578.6 million. Results in the most recent period include sales from Gambro Healthcare, which was acquired in October. Shares were trading at $54.95, up 13 cents.
gained 5% after the maker of biomedical testing instruments reported first-quarter results that topped expectations. The company earned $32.6 million, or 50 cents a share, down from $41.6 million, or 62 cents a share, a year earlier. Revenue fell to $569 million from $576.1 million. Still, the results beat analysts' forecast for earnings of 38 cents a share and revenue of $566.2 million.
For the second quarter, Beckman Coulter sees earnings of 62 cents to 72 cents a share and revenue of $620 million to $645 million. Analysts project earnings of 69 cents a share on revenue of $632.5 million. Shares were up $2.73 to $55.30.
rose 3% after the medical-equipment company posted better-than-expected first-quarter results and raised its guidance. The company earned $7.1 million, or 26 cents a share, on revenue of $62.5 million. Analysts expected earnings of 24 cents a share on revenue of $61.8 million. A year earlier, the company earned $3.2 million, or 12 cents a share, on revenue of $49.7 million.
Looking ahead, ArthroCare now sees full-year earnings of $1.10 to $1.20 a share. Previously, the company forecast earnings of $1.05 to $1.20 a share. The company continues to predict revenue of $255 million to $265 million. Analysts project earnings of $1.16 a share on revenue of $263.8 million. Shares were trading up $1.47 to $47.78.
Nu Skin Enterprises
tumbled 10% after the maker of personal care and nutritional products posted weaker-than-expected first-quarter results and gave a guidance below Wall Street's projection. Nu Skin said it swung to a first-quarter loss of $12.8 million, or 18 cents a share, compared with a year-earlier profit of 25 cents a share. The loss included various restructuring and impairment charges; excluding items, earnings were 14 cents a share, a penny below analysts' mean estimate. Revenue rose to $265.8 million from $289.4 million, but was short of Wall Street's projection of $267.9 million.
For the second quarter, Nu Skin projects earnings of 17 cents to 20 cents a share on revenue of $270 million to $277 million. Analysts project earnings of 24 cents a share and revenue of $299 million. The company targets full-year earnings of 73 cents to 83 cents a share, before items, which would miss Wall Street's forecast of 93 cents. Nu Skin anticipates revenue for the year to be $1.08 billion to $1.11 billion, compared with analysts' estimate of $1.19 billion.
Other health care volume movers included
, up 17 cents to $25.35;
, down $1.27 to $47.31;
Bausch & Lomb
, down $4.75 to $44;
, down $1.38 to $38.44;
, down $2.05 to $70;
, down $2.92 to $5.29;
, down 27 cents to $21.80;
, up 27 cents to $66.26;
, down 58 cents to $48.94;
, down 3 cents to $24.96;
Johnson & Johnson
, down 28 cents to $58.39;
, up 4 cents to $19.16.