Looking for insights into the US markets one hour before the close of the markets on Wednesday? Delve into the top gainers and losers of today's session and gain valuable market intelligence.
Shares of genetic testing company Myriad Genetics (NASDAQ:MYGN)
jumped 36.4% in the afternoon session after the company reported strong second-quarter earnings that surpassed analyst expectations and raised its full-year revenue forecast. The genetic testing firm announced revenue of $213.1 million, which sailed past analyst estimates of around $202 million. It also posted an adjusted profit of $0.05 per share, a significant turnaround from the minor loss that experts had predicted. A key driver for this outperformance was the company's hereditary cancer testing business, which grew 9% compared to the previous year. Bolstered by this momentum, Myriad Genetics lifted its full-year revenue guidance to a range of $818 million to $828 million and secured a new $200 million credit facility to fund its growth.
Stay up-to-date with the latest market trends in the middle of the day on Wednesday. Explore the top gainers and losers during today's session in our detailed report.
After posting second-quarter results that beat revenue and EPS estimates and raising its 2025 guidance, Myriad Genetics jumped 35.66% to $5.25 after-hours on Tuesday.
Genetic testing company Myriad Genetics (NASDAQ:MYGN) reported revenue ahead of Wall Street’s expectations in Q2 CY2025, but sales were flat year on year at $213.1 million. The company’s full-year revenue guidance of $823 million at the midpoint came in 1.5% above analysts’ estimates. Its non-GAAP profit of $0.05 per share was significantly above analysts’ consensus estimates.
Let's have a look at what is happening on the US markets after the closing bell on Tuesday. Below you can find the top gainers and losers in today's after hours session.
Genetic testing company Myriad Genetics (NASDAQ:MYGN)
will be announcing earnings results this Tuesday after market hours. Here’s what investors should know.
Rapid spending isn’t always a sign of progress.
Some cash-burning businesses fail to convert investments into meaningful competitive advantages, leaving them vulnerable.
Shares of genetic testing company Myriad Genetics (NASDAQ:MYGN)
fell 3.8% in the afternoon session after weakness in the healthcare sector became pronounced following a poor sales report from a key competitor. The negative sentiment was partly fueled by health insurance giant UnitedHealth Group, which reported a miss on its second-quarter earnings and issued a profit warning, casting a pall over the entire sector. More directly, NeoGenomics, a company also operating in the cancer diagnostics space, reported that it had missed its second-quarter sales targets. This news, which sent NeoGenomics' stock down significantly, suggested a potentially more challenging market environment for companies involved in oncology diagnostics, a core business for Myriad Genetics.
Market swings can be tough to stomach, and volatile stocks often experience exaggerated moves in both directions.
While many thrive during risk-on environments, many also struggle to maintain investor confidence when the ride gets bumpy.
A number of healthcare stocks fell in the afternoon session after several negative developments weighed on the sector. Weakness in managed care providers was a significant factor, with companies like Elevance Health and Humana seeing declines due to an analyst downgrade and a lost lawsuit regarding Medicare bonus payments, respectively.
The stocks in this article have caught Wall Street’s attention in a big way, with price targets implying returns above 20%.
But investors should take these forecasts with a grain of salt because analysts typically say nice things about companies so their firms can win business in other product lines like M&A advisory.
A number of stocks fell in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada.
"You get what you pay for" often applies to expensive stocks with best-in-class business models and execution.
While their quality can sometimes justify the premium, they typically experience elevated volatility during market downturns when expectations change.
