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Omar Venerio
Omar Venerio
Articles (1385) 

3 Stocks Move Wednesday

Stocks advance on stronger-than-expected results

March 07, 2018 | About:

In Wednesday trading, H&R Block Inc. (NYSE:HRB) gained ground after the company reported its financial results for the third quarter. The company posted a narrower-than-expected loss in the trimester, with a loss of $1.16 per share on revenue of $488.43 million, which was 8.1% higher than the figure reported a year earlier. Moreover, the company beat analysts' estimates by 13 cents in earnings per share and by $29.69 million in revenue.

The company´s outlook remains unchanged from what it provided in December.

Shares of Medifast Inc. (NYSE:MED) rose on the heels of the company reporting its financial results for the fourth quarter. The company posted adjusted earnings per share of 60 cents. Revenue of $78.01 million was also higher than the figure reported a year earlier by 24.9%. Moreover, Medifast managed to beat earnings per share expectations by 12 cents and revenue by $4.58 million.

"Our financial results exceeded our expectations and we are pleased to report a strong finish to the year with revenue through our OPTAVIA Coaches model generating record growth," Dan Chard, Medifast's CEO, said. "Looking ahead, our OPTAVIA coach community is now stronger than ever and very well-positioned to build upon the current business momentum as they share our mission of offering the world lifelong transformation, one healthy habit at a time."

Gross profit for the trimester increased to $59.1 million compared to $47.1 million for the fourth quarter of the previous year. The company's gross profit as a percentage of revenue increased 40 basis points to 75.8% from 75.4% for the comparable period.

Medifast expects first quarter revenue to be between $88.5 million and $91.5 million and earnings per diluted share to be 84 cents to 87 cents. For the full year 2018, the company expects revenue to be between $350 million and $360 million and earnings per diluted share to fall between $3.15 and $3.25.

Trevena Inc. (NASDAQ:TRVN) today announced financial results for the fourth quarter and full year ended 2017.

For the fourth quarter, it reported a net loss of $14.7 million, or 24 cents per share, compared with a net loss of $36.1 million, or 67 cent per share in the same trimester a year ago. For the year, Trevena registered a net loss of $71.9 million, or $1.21 per share, compared with a net loss of $103.0 million, or $1.97 per share, for the same period in 2016.

Disclosure: The author holds no position in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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