RISERS
Walter Investment Management Corp (NYSE:WAC) topped the NYSE risers for the second morning in succession. Earnings per share of five cents announced yesterday represented a turnaround from a loss of US$4.85 a share the year before. The shares were up 21% at US$1.79, and have added 63 cents in the last two days.
Intrexon Corporation (NYSE:XON) charged 17% higher to US$22.816 as it reported a 24% year-on-year increase in first quarter revenues. The biologically-based products developer still made a loss though - US$31.4mln, though this included on-cash charges of US$24.7mln.
FALLERS
Snap Inc (NYSE:SNAP) released its first set of results as a public company and though it is following the well-worn path of tech stocks of building up the user base while losing pots of money, the US$2.21bn loss still caught the market by surprise. The shares were marked down 22%.
Macy’s Inc’s (NYSE:M) shares were off 12% at US$26 after it reported adjusted earnings per share of 24 cents, which was two-thirds of the level analysts had been expecting.