U.S. equities were plummeting Tuesday as treasury bonds weakened, pushing the 10-year yield towards 3%. The S&P 500 Index lost 1.3%, while the Dow Jones Industrial Average and Nasdaq Composite fell 1.2% apiece.
Several companies made headlines after hours Tuesday, including Celgene Corporation (NASDAQ:CELG), e.l.f. Beauty Inc (NYSE:ELF) and Express Scripts Holding Company (NASDAQ:ESRX).
Here’s how they did:
Celgene Corporation (CELG)
Celgene received bad news from U.S. regulators Tuesday.
The U.S. Food and Drug Administration said that it has rejected the pharmaceutical company’s application for a multiple sclerosis treatment, sending shares down as the future of the drug hangs in the balance.
The agency sent Celgene a “Refusal to File” letter for the company’s latest drug application for the drug ozanimod, according to a statement from Celgene. “Upon its preliminary review, the FDA determined that the nonclinical and clinical pharmacology sections in the NDA were insufficient to permit a complete review,” the company said in a statement.
“Celgene intends to seek immediate guidance, including requesting a Type A meeting with the FDA, to ascertain what additional information will be required to resubmit the NDA.”
CELG stock fell 6.6% after the bell Tuesday.
e.l.f. Beauty Inc (ELF)
E.L.F. Beauty shares fell as the company released its latest outlook.
The salon owner announced its outlook for its fiscal 2018, which is slated to bring earnings in the range of 59 cents to 61 cents per share. Analysts predict earnings of 58 cents per share, according to FactSet.
However, E.L.F. Beauty’s revenue is slated to miss the mark as the company projects that its sales will be in the range of $286 million to $291 million, while Wall Street is calling for revenue of $301.3 million, according to FactSet.
The company also reported its fourth-quarter earnings, which included net income of $21.5 million, or 44 cents per share, topping the year-ago total of $6.6 million, or 13 cents per share.
Adjusted earnings were 26 cents per share, 9 cents ahead of analysts’ expectations, according to FactSet. Revenue grew by $5.2 million to $81.6 million year-over-year, below Wall Street’s guidance of $81.8 million.
ELF stock plummeted 7.6% after hours Tuesday.
Express Scripts Holding Company (ESRX)
Express Scripts shares were up on the company’s latest quarterly earnings results.
For its fourth quarter, the pharmacy-benefits manager announced net income of $2.33 billion, or $4.10 per share, topping the year-ago total of $1.43 billion, or $2.34 per share. Adjusted earnings were $2.16 per share, ahead of the $2.09 per share that analysts surveyed by FactSet called for.
Express Scripts also saw its revenue go up as it increased from $24.86 billion to $25.38 billion. Analysts polled by FactSet had called for a consensus estimate of $25.1 billion.
For its first quarter of fiscal 2018, the company sees earnings in the range of $1.73 per share to $1.78 per share, while analysts see this figure as being $1.73 per share. Express Scripts sees earnings of $9.27 to $9.47 per share for the year, compared to Wall Street’s $8.83 per share for the year.
ESRX gained 3.3% after the bell yesterday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.