-- Labcorp (LH) has an average rating of overweight and mean price target of $311.35, according to analysts polled by FactSet.
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Price: $257.19, Change: $+0.05, Percent Change: +0.02%
(Updates with stock price move in headline and first paragraph, full-year revenue guidance and analyst downgrade in the sixth and seventh paragraphs.)Check Point Software Technologies (CHKP) shares were down more than 19% in Thursday afternoon trading after the company cut its full-year revenue outlook and Piper Sandler downgraded the stock.The company reported Q1 non-GAAP earnings Thursday of $2.50 per diluted share, up from $2.21 a year earlier.Analysts polled by FactSet expected $2.40.Revenue for the quarter ended March 31 was $668.4 million, up from $637.8 million a year earlier.Analysts surveyed by FactSet expected $672.7 million.The company lowered its 2026 revenue forecast to between $2.77 billion and $2.85 billion from $2.83 billion to $2.95 billion. Analysts expected $2.88 billion.Piper Sandler downgraded the stock to neutral from overweight.Price: $112.94, Change: $-27.02, Percent Change: -19.31%
Tech stocks rose late Thursday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) gaining 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing 4.1%.The Philadelphia Semiconductor index climbed 2%.In corporate news, Qualcomm's (QCOM) shares jumped 15% a day after the company posted better-than-expected fiscal Q2 adjusted earnings and revenue.
Adamas Trust (ADAM) shares were up 16.4% in Thursday trading after the real estate investment trust posted better-than-expected Q1 earnings.The company reported earnings of $0.40 per diluted share, compared with $0.33 a year ago.Analysts polled by FactSet expected $0.12.Revenue for the quarter ended March 31, expressed as the sum of total net interest income and total other income, was $129.4 million, compared with $65.1 million a year earlier.A comparable FactSet estimate was not available.Price: $9.00, Change: $+1.25, Percent Change: +16.06%