Neogen Raises Guidance, Constellation Brands Falls Despite Earnings Beat

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2▲3 ▼1Impact / 5
Summary · why it matters

Neogen raised its fiscal year guidance, sending shares up 11% premarket, with the food safety company now projecting revenue of $885 million to $890 million versus its earlier range of $880 million to $885 million and the FactSet consensus of $883.2 million. Penguin Solutions climbed more than 4% after fourth quarter adjusted earnings of $1 per share on revenue of $566.7 million beat the 77 cents per share and $521 million analysts polled by FactSet expected. Constellation Brands fell 5% even after reporting better-than-expected fiscal second quarter results, with earnings of $3.74 per share on revenue of $2.63 billion against analyst expectations of $3.56 per share on revenue of $2.54 billion, as beer operating margins decreased 160 basis points year on year and depletions fell slightly. Flutter Entertainment rose nearly 3% after Citi upgraded the FanDuel parent to buy from neutral, saying recent share price weakness on Brazil and September US sports results concerns are overblown.

Impact on assets 5

Biotech & Genomic Medicine▲
Neogen Corporation
NEOG
▲ PositiveCapitalrelevance

Neogen raised its fiscal year revenue guidance above consensus, sending shares up 11% premarket.

Consumer Discretionary▲
Artificial Intelligence▲
Consumer Staples▼
Constellation Brands Inc Class A
STZ
▼ NegativeCapitalrelevance

Constellation Brands fell 5% despite an earnings beat as beer operating margins decreased 160 basis points and depletions fell slightly.

Off-coverage companies 1

FanDueli
Private± Mixedrelevance