AHCO - Hot Stocks: GOGO PGNY surge on earnings news; AHCO drops; AMRN proxy fight

Despite a mixed performance for the overall markets during Tuesday's midday trading, the release of quarterly results provided notable trading fodder for many individual stocks. This included Gogo ( NASDAQ: GOGO ) and Progyny ( PGNY ), which surged in the wake of their respective quarterly results.

On the other side of the spectrum, AdaptHealth ( AHCO ) lost more than a quarter of its value after the firm issued disappointing results and a weak forecast.

In other news, Amarin ( AMRN ) surged following the results of a proxy battle.

Gainers

Gogo ( GOGO ) surged in midday trading following the release of its quarterly results , as Q4 results tops projections and the company issued a strong forecast. Shares of the provider of internet service on airplanes rose 15% on the day.

GOGO reported revenue of $108M, an increase of 17% from last year. Looking ahead, the company predicted a top-line figure of $440M-$455M, with adjusted EBITDA of $150M-$160M.

Progyny ( PGNY ) also advanced on earnings news . Shares of the insurance company, which focuses on fertility benefits, climbed 19% after the company's earnings and revenue exceeded expectations. The top-line total climbed 68% to $214M.

For 2023, the company predicted revenue of $1.00B-$1.03B. This would represent growth of 27%-31% compared to the previous year.

Amarin ( AMRN ) received buying interest after the company's largest shareholder won a proxy battle . Following a shareholder vote, Sarissa Capital Management had seven of its board nominees elected and the current chairman was replaced.

"While there is a lot of work to be done, we remain confident in our ability to leverage Vascepa's rare and highly beneficial profile to unlock tremendous value for all shareholders," Sarissa said in a statement. AMRN advanced about 11% in midday trading.

Decliner

The release of financial figures prompted selling in AdaptHealth ( AHCO ). The home medical equipment company reported a GAAP loss for Q4, disappointing analysts , who were looking for a profit.

The company also trimmed its full-year guidance, saying it now expects a top-line figure of $3.16B-$3.24B. Analysts were looking for a total of around $3.26B. Hurt by the earnings news, AHCO plummeted 27% in midday trading.

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