Abiomed's stock climbs after preliminary revenue reported above expectations
Shares of Abiomed Inc. rallied 1.1% in premarket trade Monday, after the medical device company reported preliminary fiscal third-quarter revenue that topped expectations. The company said it estimates revenue rose 30% rose to $200.6 million from $154.0 million in the same period a year ago, above the FactSet consensus of $195.6 million. The company raised its fiscal 2019 revenue guidance to $780 million, from a range of $765 million to $770 million. The company said the preliminary estimates are subject to revision until it reports full results on Jan. 31. The stock has tumbled 24.6% over the past three months while the S&P 500 has lost 12.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.