Market Overview

Alere Drops After Trading Halt, JPMorgan Presentation; Recovers To Session Highs


Shares of Alere Inc (NYSE: ALR) were halted shortly after 10:15 AM EST on Monday ahead of the company's presentation at the JPMorgan Healthcare Conference.

During Alere's presentation, the company's CEO, Namal Nawana, issued fourth quarter guidance. The company noted "unplanned negative variances" forced management to revise its revenue expectations to $630 million from a previous $640 million to $660 million range.

Following the trading halt, shares of Alere plunged to a 52-week low of $31.96. However, the stock quickly rebounded to positive territory and traded higher by more than 2 percent at a session high of $37.08.

Posted-In: Alere guidance JPMorgan Healthcare ConferenceBiotech News Guidance Movers General


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