While bitcoin soared to higher than $13,000 per unit, U.S. equities posted slight losses as breadth was negative on Wednesday. The S&P 500 Index lost a fraction, while the Dow Jones Industrial Average and Nasdaq Composite dipped 0.2% apiece.
Here’s how they did:
Comtech Telecomm. Corp. (CMTL)
Comtech Telecomm. had a strong quarter that helped drive shares higher late Wednesday.
The communications solutions provider brought in adjusted earnings at a loss of seven cents per share during its first quarter, topping Wall Street’s expectations of a loss of 29 cents per share on an adjusted basis.
Comtech Telecomm. also improved in the revenue front as it started off fiscal 2018 with sales of $121.6 million. Analysts were calling for a consensus revenue of $106.94 million.
Bookings for the period were $165.7 million, while the company said it achieved a company-wide book-to-bill ratio of 1.36, which is a metric that consists of bookings divided by net sales.
Comtech Telecomm. updated its full-year earnings expectations to be in the range of 44 cents to 46 cents per share, compared to Wall Street’s guidance of 41 cents per share. It sees revenue in the range of $550 million to $575 million compared to the projection of $555.78 million.
CMTL stock gained 7.9% after hours.