ZI, OMCL, ENVX Lead Earnings Losers Pack
Market News

ZI, OMCL, ENVX Lead Earnings Losers Pack

A number of stocks are making a splash on big earnings changes in either direction. Shares of intelligence and engagement platform provider ZoomInfo Technologies (NASDAQ:ZI) have lost over one-fifth of their value today despite a Q3 beat owing to worries about the operating environment.

ZI’s revenue jumped by 45.5% over the prior year to $287.6 million, outperforming estimates by nearly $9 million. EPS at $0.24 too came in ahead of expectations by $0.04.

Nonetheless, the company’s top brass noted it is seeing “increased macro pressure on deals, causing the level of deal review to increase and sales cycles to elongate further.”

Medication management solutions provider Omnicell (NASDAQ:OMCL) is down a whopping 24% today after it cut guidance for 2022.

The company’s third-quarter revenue increased by 17.4% year-over-year to $348.06 million but missed expectations by $15.1 million. EPS of $1, on the other hand, came in better than consensus by $0.05.

Despite the earnings beat, Omnicell scaled back its guidance. For 2022, it now expects revenue to land between $1.284 billion and $1.294 billion. EPS is expected to range between $2.73 and $2.83.

It previously expected revenue to be between $1.385 billion and $1.410 billion. EPS was anticipated to be between $3.85 and $4.05.

Rounding off the losers pack is lithium-ion battery maker Enovix Corp. (NASDAQ:ENVX) with a drop of nearly 41% today.

The company reported a net loss per share of $0.53 for the third quarter. The Street had anticipated a net loss per share of $0.16. The company’s top line came in at $8,000 during this period.

For 2022, it sees revenue landing between $6 million and $8 million. Further, it anticipates using cash between $130 million and $150 million for 2022.

Read full Disclosure


Price Change
S&P 500
Dow Jones
Nasdaq 100

Popular Articles