Cyberonics Reports Outstanding Earnings – Now What?
Prior to Friday’s (2/22) stock market open, Cyberonics (CYBX) reported $0.47 EPS for its fiscal 3rd quarter 2013, up 38% from one year ago, and almost 24% above estimated earnings. Revenues were almost $63 million, up 15% from last year and 3.5% better than expected. Today the stock rose 5.2% from yesterday’s $44.33 close.
However, trading was volatile, ranging from its opening up to $48, down to $43.53, then back up to close at $46.65. That erratic behavior raises the question of “Now what?”
This article is published on SeekingAlpha.com
