Stratasys Ltd Follow 3D Systems With Lower Q1 Guidance

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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
'' Stratasys Ltd.
SSYS
shares are trading sharply lower by $10 at $41.30 in Wednesday's session. The catalyst for the decline is much lower guidance from the company for Q1 ($0.02-$0.04 vs. Est. ($0.30) and for sales ($171M vs. $173M vs. Est. $200M). Investors that were paying attention to another sector in the issue may have been able to avoid being caught in today's landslide. On April 23, 3D Systems
DDD
slashed its Q1 guidance for EPS ($0.02 vs. $0.04 vs. Est. $0.17) and for sales ($158M - $160M vs. Est. ($183.5). As a result, 3D Systems swoon from its April 23 close ($30.15) to $27.23 the following day and is no clinging to the $25 level in today's session. Stratasys cascaded to $40.20 during premarket trading but found support ahead of that level off the sharply lower ($41.21 vs. Tuesday's close of $51.3) falling another $0.07 to $41.14 before rebounding to $43..20. At this time, it is revisiting the lows for the regular session.
Posted In: TechnicalsIntraday UpdateMoversTrading IdeasPre-market outlook
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