Market Overview

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

Share:

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

 

Related Articles (ALR)

View Comments and Join the Discussion!
Need corporate guidance data?
Click here to see licensing options.
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Early Investor Takeaways From The 2016 North American International Auto Show

Alcoa Lower Ahead Of Q4 Report