Shares of Netgear Inc. NTGR, +0.62% plunged 12% successful extended trading Wednesday aft the computer-networking institution reported fiscal second-quarter results. Netgear reported nett income of $17.8 million, oregon 57 cents a share, compared with nett income of $22.96 million, oregon 72 cents a share, successful the year-ago quarter. Revenue declined 3% to $308.8 cardinal from $317.9 cardinal a twelvemonth ago. Analysts surveyed by FactSet had expected nett income of 71 cents a stock connected gross of $315 million. Netgear's shares are down 9% truthful acold successful 2021. The broader S&P 500 scale SPX, +0.82% has gained 16% this year.
Published: July 21, 2021 astatine 4:25 p.m. ET
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NeuroMetrix banal much than triples connected monolithic measurement aft fibromyalgia attraction gets FDA boost
Shares of NeuroMetrix Inc. undefined rocketed 241% toward a two-year precocious connected grounds volume, aft the Massachusetts-based aesculapian instrumentality institution said its Quell transcutaneous electrical nervus stimulator received "Breakthrough Designation" from the Food and Drug Administration to dainty fibromyalgia symptoms successful adults. Trading measurement ballooned to 228.3 cardinal shares, compared with the full-day mean implicit the past 30 days of astir 125,600 shares, to marque the banal the biggest gainer and astir actively traded connected large U.S. exchanges. Fibromyalgia is simply a signifier of chronic symptom that affects 5 cardinal to 15 cardinal people, oregon 2% to 6% of the U.S. population, and is astir often diagnosed successful radical betwixt the ages of 30 and 50. Quell is simply a non-invasive wearable neurostimulator that provides flexible and precise nervus stimulation. Under the Breakthrough Designation program, the FDA volition supply the institution with precedence reappraisal and interactive connection connected instrumentality improvement done commercialization. In addition, determination are authorities programs which whitethorn facilitate Medicare reimbursement. The banal has present rallied 251.9% twelvemonth to date, portion the SPDR Health Care Select Sector ETF undefined has gained 13.5% and the S&P 500 undefined has precocious 15.3%.
About the Author
Jon Swartz is simply a elder newsman for MarketWatch successful San Francisco, covering galore of the biggest players successful tech, including Netflix, Facebook and Google. Jon has covered exertion for much than 20 years, and antecedently worked for Barron's and USA Today. Follow him connected Twitter @jswartz.