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3 Stocks to Watch on Wednesday: Endo International Plc (ENDP), Etsy Inc (ETSY) and Palo Alto Networks Inc (PANW)

The streak for U.S. stocks was halted on Tuesday as gold and oil each finished 0.4% weaker than the previous day. The S&P 500 Index lost 0.3%, the Dow Jones Industrial Average slipped 0.1% and the Nasdaq Composite lost 0.6%.

3 Stocks to Watch on Wednesday: Endo International Plc (ENDP), Etsy Inc (ETSY) and Palo Alto Networks Inc (PANW)Several companies revealed their latest quarterly earnings results, including Endo International Plc (NASDAQ:ENDP), Etsy Inc (NASDAQ:ETSY) and Palo Alto Networks Inc (NYSE:PANW).

Here’s how they performed late in the day.

Endo International Plc (ENDP)

Endo International released quarterly data that exceeded the guidance Tuesday.

Revenue was 15.6% better year-over-year to $1.24 billion, coming in $80 million ahead of the $1.16 billion that Wall Street was expecting for the company’s fourth quarter.

As far as earnings go, Endo International earned $1.77 a share, which was 14 cents higher than the $1.63 per share that analysts were calling for. The company on focuses on both prescription and over-the-counter medications.

It was a dismal period for U.S. brand pharmaceutical sales, which declined 24% to $289 million. Endo International was hit hard as the company recorded a $3.5 billion write-down over the period.

The move is part of “the quickly evolving new realities of the U.S. generics external environment,” company CFO Blaise Coleman told investors on a conference call. And that includes “a change in the value derived from estimated future pricing levels.”

The company also lowered its 2017 forecast from $4.01 billion to now be in the range of $3.45 billion to $3.6 billion over the course of the year.

ENDP stock is up 2% in premarket trading.

Etsy Inc (ETSY)

Etsy stock was hammered as the company reported a loss on its fourth quarter.

The crafts marketplace posted a loss of 19 cents per share, or a gain of 3 cents per share when adjusted for non-recurring costs. Wall Street predicted earnings of one cent per share.

As far as revenue goes, Etsy unveiled revenue of $110.2 million, which topped the $106.9 million that analysts had anticipated, according to a poll conducted by Zacks Investment Research.

For the fiscal year 2016, the company’s loss was lower at $29.9 million, or 26 cents per share, which was better than the previous quarter. Revenue amounted to $365 million.

For fiscal 2017, Etsy projects that its revenue will grow by 20% or 22% compared to the current year. This figure will be in the range of $438 million to $445.3 million, compared to analysts predicting $445.7 million in revenue.

ETSY shares sunk more than 5% after the bell yesterday.

Palo Alto Networks Inc (PANW)

Palo Alto Networks reported on its results Tuesday as well, and it was not a pretty earnings call.

The security-software company posted a net loss of $60.6 million, which tallied up to 67 cents per share. Analysts polled by FactSet were expecting earnings of 63 cents per share.

Meanwhile, revenue came in at $422.6 million for the company’s fourth quarter. The figure also surpassed the $423 million that analysts were calling for in their outlook.

“While fiscal second quarter revenue of $423 million was yet another record for the company, we were disappointed that we came in below top-line expectations due to some execution challenges, which we are moving quickly to address,” CEO Mark McLaughlin said in Tuesday’s announcement.

The real reason why shares were free-falling after the bell is due to Palo Alto Networks missing its expectations, setting adjusted earnings in the range of 54 to 46 cents per share. Wall Street predicted profit of 70 cents per share, on an adjusted basis.

Revenue will also be much weaker than what analysts had anticipated in the range of $406 million to $416 million, compared to projections of $455 million in company sales for the next quarter.

PANW stock plummeted 20% late yesterday.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


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