Millions of People Will Be Blindsided in 2023. Will You Be One of Them?

On December 13, Louis Navellier, Eric Fry & Luke Lango will reveal the major events that could rock the markets in 2023. Will your money be safe?

Tue, December 13 at 4:00PM ET

3 Stocks to Watch on Tuesday: EnteroMedics Inc (ETRM), MeetMe Inc (MEET) and Casey’s General Stores Inc (CASY)

Monday was a weak day for U.S. equities as the markets become more unsure about the goings-on at the federal level, with President Donald Trump accusing former President Barack Obama and his team of tapping his phones. The S&P 500 Index lost 0.3%, the Dow Jones Industrial Average declined 0.2% and the Nasdaq Composite fell 0.4% — and the major indices are trading flat to slightly lower on Tuesday.

3 Stocks to Watch on Tuesday: EnteroMedics Inc (ETRM), MeetMe Inc (MEET) and Casey's General Stores Inc (CASY)Tuesday’s bigger moves are still coming from the waning earnings slate. Today, it would pay to keep an eye on EnteroMedics Inc (NASDAQ:ETRM), Casey’s General Stores Inc (NASDAQ:CASY) and MeetMe Inc (NASDAQ:MEET).

Here’s what you should know:

EnteroMedics Inc (ETRM)

ETRM shares are up by double digits on Tuesday after reporting improved full-year metrics.

EnteroMedics recorded a net loss of $4.43 million for the quarter and $23.36 million for the full year. Both of those figures were down from a $6.77 million Q4 loss and $25.5 million full-year loss in 2015.

While Q4’s sales of $141,900 were off from the previous year’s $149,000, full-year sales jumped from $292,000 to $786,660.

The company expanded the reach of its VBloc Therapy — an implantable weight loss device — via a partnership with Academy Medical, including to U.S. Department of Veterans Affairs medical facilities.

ETRM shares shot up 15% on Tuesday.

MeetMe Inc (MEET)

MeetMe stock was through the roof following two pieces of good news for the company.

The social media site unveiled Street-beating quarterly results on Tuesday. Adjusted earnings of 19 cents for Q4 beat the consenus estimate by 2 cents, as did revenues of $29.2 million, which topped expectations for $28.75 million.

Full-year revenues of $76.1 million was up 34% year-over-year, on mobile revenues of $70.7 million that were 56% better YOY. GAAP net income for MeetMe came in at 80 cents per diluted share, or 50 cents higher than the 30 cents per diluted share posted the previous year.

MeetMe also announced on Monday night that it was purchasing If(we), the parent of social media outlets Tagged and Hi5. The combined network will have 10.6 million monthly users, and about 1.1 million daily users.

MeetMe is different from most social networks as it is designed to meet new people, rather than connect with people you already know.

MEET shares are up 14% in early Tuesday trading.

Casey’s General Stores Inc (CASY)

Casey’s General Stores shares slumped on Tuesday after the company’s latest earnings results.

The convenience store and gas station earned 58 cents per share over the course of its fiscal third quarter, failing to meet the 88 cents per share that Wall Street expected. Profits were off 40% year-over-year.

Meanwhile, revenue also missed the mark at $1.77 billion, which was $40 million below the consensus estimate.

A positive in the period for Casey’s was lower gas prices that saw gasoline sales volume increase 2.6% year-over-year. The company also approved a $300 million repurchase program.

CASY stock was down about 2% on Tuesday.

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC