Etsy Inc (NASDAQ:ETSY) (Fortune)
Etsy’s stock price jumped as much as 24% in midday trading on Wednesday, and has now more than doubled from a year ago, thanks to Silverman’s turnaround strategy that got the company out of Amazon’s long shadow. Silverman, a veteran of eBay’s (EBAY, +0.12%) Shopping.com site, has emphasized simple improvements like adding “best seller” badges and site-wide sales for Labor Day and Cyber Monday last year, as well as deeper changes that improved customer searches using artificial intelligence and machine learning with a program Etsy calls “Context Specific Search ranking.”
Frontier Communications Corp (NASDAQ:FTR) (MarketWatch)
Shares of Frontier Communications Corp. FTR, -23.86% tumbled 23% in active premarket trade Wednesday, enough to pace the decliners ahead of the open, after the communications services company suspended its dividend to make resources available to pay down debt. The previous annual dividend rate was $2.40 a share, which based on Tuesday’s stock closing price of $9.24 implied a dividend yield of 25.97%, compared with the S&P 500’s SPX, +0.26% implied dividend yield of 1.88%, according to FactSet.
photofriday/Shutterstock.com
Stratasys Ltd (NASDAQ:SSYS) (The Motley Fool)
What happened: Shares of Stratasys Ltd. (NASDAQ:SSYS) are down 10% as of 11:25 a.m. EST after the 3-D printer maker reported Q4 financial results that beat expectations for both sales and earnings. On Wall Street, the theory heading into earnings had been that Stratasys would report pro forma profits of $0.15 per share on sales of just under $174 million. Stratasys instead reported revenues of $179.3 million and pro forma profits of $0.16 — beating expectations on both fronts.
PHH Corporation (NYSE:PHH) (Benzinga)
PHH Corporation shares climbed 25.3 percent to $10.70 after the company agreed to be purchased by Ocwen Financial for $11 per share in cash.
Snap Inc (NYSE:SNAP) (CNBC)
Snap shares rallied about 5 percent Wednesday, a sign Wall Street may have shrugged off criticism from Snapchat users. Snapchat has rolled out a redesigned app interface over the past few months to make it easier for new users to learn the ropes. But the redesign was slammed by the company’s core user base, including a highly publicized online petition and a cutting tweet from model Kylie Jenner.
Crocs, Inc. (NASDAQ:CROX) (The Motley Fool)
What happened: Shares of Crocs (NASDAQ:CROX) slumped on Wednesday after the footwear company reported mixed fourth-quarter results. While revenue exceeded analyst estimates and margins improved, the bottom line came in below expectations, and guidance for 2018 called for flat revenue. Shares of Crocs had previously surged when the company increased its guidance in January. As of 11:20 a.m. EST, the stock was down about 13.5%.
Celgene Corporation (NASDAQ:CELG) (MarketWatch)
Celgene Corp. shares slid 8% in extremely heavy Wednesday trade after the company said that the Food and Drug Administration won’t let it file for approval of its ozanimod drug for relapsing multiple sclerosis. The decision, delivered by a “Refusal to File” letter, was made due to insufficient sections in the drug application, the FDA said. Such letters are considered embarrassing for a drug company, and especially so for Celgene CELG, -7.98% for which ozanimod has become a key product after other major drug failures last fall.
Community Health Systems (NYSE:CYH) (Benzinga)
Community Health Systems dipped 15.8 percent to $5.20. Community Health posted a narrower-than-expected Q4 loss, while sales missed estimates. The company also issued a weak 2018 forecast.
Office Depot Inc (NASDAQ:ODP) (CNBC)
Office Depot – The office supplies retailer beat estimates by a penny a share, with adjusted quarterly profit of 8 cents per share. Revenue missed forecasts, however, and comparable store sales fell 4 percent versus a consensus estimate of a 3.3 percent decline.
