Craig-Hallum downgraded the stock to hold from buy and slashed its price target to $30 from $90. B. Riley also lowered the stock to neutral from buy after Q1 sales missed expectations and reduced its price objective to $31 from $88.
Shares of the company slumped 43% by Friday afternoon as trading volume jumped to more than 2.3 million from its daily average of about 291,000.
Endo International (ENDP) reported a decline in adjusted earnings per share and revenue in Q1. Its Q2 guidance for an adjusted loss from continuing operations surprised the market as expectations were for the company to report earnings.
Shares of the specialty pharmaceutical company slumped 29% as trading volume advanced to over 15.2 million versus its daily average of roughly 4.65 million.
Under Armour (UAA) swung to an unexpected Q1 loss as higher freight costs hit profit margins. The sports equipment manufacturer expects supply chain issues and uncertainty related to COVID-19 in China to affect its outlook for fiscal 2023.
Shares plummeted 25% alongside a surge in intraday trading volume to more than 19 million compared with its daily average of 6.7 million.
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