By Connor Hart
Both Steelcase's second-quarter revenue and its third-quarter revenue outlook missed analyst expectations. The office-furniture company in its recent quarter posted revenue of $855.8 million, missing the $864.2 million that Wall Street analysts were looking for. For its current quarter, the Grand Rapids, Mich., company guided for revenue between $785 million and $810 million, below the $812.1 million that analysts polled by FactSet expect. Shares fall 12%, to $12.40, in after-hours trading.
Progyny said a "significant" client, which accounted for approximately 670,000 of the company's members and 12% of its revenue in the first half of the year, will terminate its services agreement, effective Jan. 1. The New York company, which handles fertility care insurance coverage for employers, didn't name the client. It said it continues to anticipate an increase in its overall member count in 2025. Shares tumble 25%, to $18.24, in postmarket trading.
America's Car-Mart plans to sell $65 million of stock in an underwritten public offering. The company said proceeds from the offering will be used to repay the balance on its revolving credit facility, and for general corporate purposes. Shares decline 13%, to $43.70, in after-hours trading.
Exicure was granted a Nasdaq listing extension, subject to showing compliance with all applicable listing criteria by Nov. 14. The biotechnology company last week regained compliance with the $1 minimum bid price requirement. Share surge 168%, to $6.15, in postmarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
September 18, 2024 19:51 ET (23:51 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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