IBM plunges on big revenue miss
Jon "DRJ" Najarian | [email protected]
International Business Machines earned $3.99 a share in the third quarter, better than the $3.96 expected by analysts. But revenue was just $23.72 billion, well below the $24.75 billion consensus forecast. Full-year guidance was also cut slightly, sending IBM down 7 percent before the opening bell on my tradeMONSTER platform.
Amarin Sees Valuation Cut by More than Half
Amarin announced that a Food & Drug Administration advisory panel voted 9-to-2 against an expanded use of its Vascepa drug. The company wanted it to be used as an adjunct to diet and exercise for certain patients suffering from high triglycerides. AMRN craters 61 percent in early trading.
SanDisk Climbs on Earnings, Revenue Beat
SanDisk earned $1.59 a share on revenue of $1.63 billion. Analysts had expected $1.32 and $1.57 billion, respectively. SNDK climbs almost 5 percent in the premarket.