Our accelerating revenue growth was broad-based, driven by procedure volume recovery, supply improvements, and innovative product introductions,” CEO Geoff Martha said in a news release. “We had a strong finish to our fiscal year, with our fourth quarter top- and bottom-line results coming in ahead of expectations. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down more than 1%. By the afternoon, Medtronic stock was down more than 4% to $83.59 per share. Investors initially sent MDT shares down more than 5% this morning. However, its forecast for the new fiscal year came up short of The Street’s expectations.
#Linkedin stock falls Patch#
The world’s largest medical device company also announced an acquisition, planning to pay roughly $738 million for South Korea–based EOFlow and its EOFlow insulin delivery patch that a user can control using their smartphone. Privacy Policy.+ today reported fourth-quarter results that beat the consensus forecast on Wall Street amid accelerating revenue growth. Under which this service is provided to you. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018Ĭable News Network. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.
Groupon ( GRPN), which debuted earlier this month, has a six-month lockup that ends May 2. Internet radio company Pandora's ( P) lockup period ends on December 12, and real estate Zillow's ( Z) expires January 16. Of course, this post-lockup phenomenon isn't exclusive to LinkedIn - and investors in other Internet companies that have recently gone public should take note ahead of their own lockup period expirations. LinkedIn shares are still trading well above their IPO price of $45 - but they're also well below the $94.25 closing price their first day on the market, and they're edging closer to the 52-week low of about $60 a share. The company reported a small loss for the third quarter and according to consensus estimates from analysts, Wall Street expects another loss in the fourth quarter as well. LinkedIn has not yet revealed the sale date.
Secondary offerings are sometimes considered ominous signs, as they can sometimes mean that expenditures have outpaced expectations and a company needs to raise more cash. In total, those three investors are selling about 2.5 million shares.īut investors may be most spooked by the fact that LinkedIn is selling 1.3 million of its shares.
#Linkedin stock falls software#
Three other LinkedIn investors are cashing out some of their shares: Co-founder Allen Blue, a venture capital firm run by German software giant SAP ( SAP), and Arvind Rajan, the head of LinkedIn's international business. Bain bought into LinkedIn in 2008 as the largest investor in a $53 million funding round - and sold 653,000 shares in LinkedIn's IPO. Last Tuesday, the private equity firm said it was selling its entire $275 million stake in LinkedIn.īain held more than 3.7 million shares of the company, or about 4.3% of its outstanding stock, according to a LinkedIn regulatory filing. LinkedIn shares are down almost 23% over the month, and 15% over the past week alone.Īn announcement from early investor Bain Capital likely accelerated the recent sell-off. Those announcements don't inspire confidence in a stock that's been criticized for overvaluation since its IPO.
Meanwhile, LinkedIn is selling 1.3 million of its own shares in that offering. The lockup expiration has been on investors' minds, as four company insiders have already said they are cashing out in a second offering of stock. Shares of LinkedIn fell 6.7% in late morning trade Monday. It appears that some investors took advantage of this. That provision prevented certain early investors from unloading their stakes until the end of the three-month period, which expired on Sunday.
LinkedIn ( LNKD) began trading on the New York Stock Exchange on May 19, and as part of the initial public offering, there was a typical 180-day "lockup" agreement for insiders.
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