By Ben Glickman
Cano Health issued a going-concern warning Thursday and said it would reduce its workforce by 17%. The primary-care provider said it didn’t have enough cash to continue operations for the next 12 months, and was exploring a possible sale of the business in addition to selling non-core assets. Shares fell 50% to 76 cents in after-hours trading.
Maxeon Solar reduced its guidance for full-year revenue after reporting weaker demand for its solar products in the second quarter. The Singapore-based solar technology company also reduced its guidance range for adjusted earnings, saying that higher interest rates and well-stocked inventories in the industry have dampened demand. Shares sank 22% to $17.40 after-hours.
Apyx Medical’s revenue came in below estimates in the second quarter as the medical technology company saw softer sales from international distributors because of the timing of orders. The company’s revenue rose 32% to $13.6 million, below Apyx’s second-quarter revenue guidance and Wall Street’s estimates. Shares fell 11% to $3.75 after-hours.
Write to Ben Glickman at [email protected]
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