It was a mixed day for U.S. stocks yesterday as technology stocks surged 1%, while energy stocks fell 1.3%. The S&P 500 grew 0.2%, the Dow Jones Industrial Average fell a fraction of a percentage and the Nasdaq Composite gained 0.7%.
Here’s what you should know:
Egalet Corp (EGLT)
Egalet announced a public offering on Wednesday.
The specialty pharmaceutical company announced that it would offer and sell shares of its common stock in an underwritten public offering. The underwriters will be given a 30-day offer where they can buy additional shares of common stock and warrants amounting to 15% of the number of securities sold in the offering.
The securities that will be purchased will help support the commercial sales and marketing efforts of several of its medications: Arymo ER (morphine sulfate) extended-release tablets, Sprix (ketorolac tromethamine) Nasal Spray and Oxaydo (oxycodone HCI, USP) tablets.
It will also be used for general corporate purposes, including potential business development opportunities.
Cantor Fitzgerald & Co. is the book-running manager in the offering.
EGLT shares fell 27% after hours.
Herman Miller, Inc. (MLHR)
Herman Miller posted its earnings results Wednesday, topping expectations.
The office furniture manufacturer and supplier unveiled profit of 55 cents per share, in line with the consensus estimate. On an adjusted basis, earnings were 64 cents per share as the company finishes the fiscal year with a bang.
Revenue came in at $577.2 million for its fourth quarter of the year, missing the mark as Wall Street was calling for sales of $583.5 million. MLHR also raised its dividend by 6%, or up a cent to 18 cents per share.
Earnings will be in the range of 55 cents to 59 cents per share for the current period, while sales will be between $570 million and $590 million.
MLHR stock surged 7.3% after the bell Wednesday.
PriceSmart, Inc. (PSMT)
PriceSmart posted its third-quarter earnings figures yesterday. Earnings tallied up to 62 cents per share, which disappointed greatly as the Wall Street outlook predicted earnings of 72 cents per share.
PriceSmart also missed the mark with its revenue totals, posting sales of $730.3 million, behind the $734.5 million that analysts polled by Thomson Reuters expected.
PSMT fell 9% after Wednesday’s market close.