WebMD, Royal Bank of Scotland Floored in Active Trading

by Anthony John Agnello | July 18, 2011 1:24 pm

Here’s what’s hot in the market today: WebMD crashes on lowered expectations for its fiscal year. Pharmaceutical Product Development jumped after it said it was open to a sale. Royal Bank of Scotland dipped after failing a stress test. PetMeds dropped after disappointing earnings and Greenhill rose slightly on strong earnings.

WebMD Health Group (NASDAQ: WBMD[1]) fell more than 30% to trade near $32 after the Internet-based medical services company released preliminary second quarter results. Though revenue for the quarter that ended in June totaled approximately $141 million, a 15% year-on-year increase, the company lowered its full year estimates due to the cancellation and delay of new consumer sponsorships and lowered advertising sales estimates.

Pharmaceutical Product Development (NASDAQ: PPDI[2]) was up about 12% to top $31 on nearly 3 million shares.  A Sunday report in The Wall Street Journal[3] said the drug research company, with a market cap above $3 billion, is considering a sale.

Royal Bank of Scotland (NYSE: RBS[4]) was down about 7% to $10.50. According to a report in Bloomberg[5], the banking and financial services company joined UK-based banks Barclays (NYSE: BCS) and Lloyds after stress tests showed that all three banks were relatively weak.

Greenhill (NYSE: GHL[6]) was up more than 1% to nearly $47.50 after the investment bank reported strong second quarter earnings on Sunday. Revenue was up 38% year-on-year and fiscal 2011 revenues were up 36%.

PetMeds (NASDAQ: PETS[7]) was down almost 6% to trade under $11. Shares in the by-mail pet medication distributor fell after it reported disappointing second quarter earnings. Profits for the quarter totaled almost $5 million, down 33% from the more than $7 million earned during that period the year previous.

As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello[8] and become a fan of InvestorPlace on Facebook.[9]

 

Endnotes:

  1. WBMD: http://studio-5.financialcontent.com/investplace/quote?Symbol=WBMD
  2. PPDI: http://studio-5.financialcontent.com/investplace/quote?Symbol=%20%20PPDI
  3. The Wall Street Journal: http://online.wsj.com/article/SB10001424052702303795304576452263930813914.html
  4. RBS: http://studio-5.financialcontent.com/investplace/quote?Symbol=RBS
  5. Bloomberg: http://www.bloomberg.com/news/2011-07-18/rbs-lloyds-barclays-fall-after-stress-tests-expose-weaknesses.html
  6. GHL: http://studio-5.financialcontent.com/investplace/quote?Symbol=GHL
  7. PETS: http://studio-5.financialcontent.com/investplace/quote?Symbol=%20%20PETS
  8. @ajohnagnello: http://twitter.com/#%21/ajohnagnello
  9. InvestorPlace on Facebook.: http://www.facebook.com/pages/InvestorPlace/178906405484848

Source URL: https://investorplace.com/2011/07/webmd-royal-bank-of-scotland-pets-ghl-rbs-ppdi-wbmd/