Neogen shares are trading lower after the company reported worse-than-expected Q2 financial results and lowered its FY24 sales guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Neogen Corporation's stock is trading lower following the announcement of disappointing Q2 financial results and a reduction in its sales guidance for FY24, which fell below analyst expectations.
January 09, 2024 | 1:52 pm
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NEGATIVE IMPACT
Neogen Corporation reported lower than expected Q2 results and reduced its FY24 sales guidance, likely leading to a negative short term impact on its stock price.
The stock is trading lower as a direct result of the negative earnings report and lowered sales guidance, which are key indicators of the company's financial health and future performance. This news is likely to shake investor confidence and could lead to a bearish outlook in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100