PHG - Hot Stocks: PHG ACI earnings; Z pauses house flipping; OMER FDA ruling; CDW acquisition
Earnings news provided a key theme for Monday's pre-market trading. Philips (NYSE:PHG) fell in response to its quarterly report, while better-than-expected results sparked an advance in Albertsons (NYSE:ACI). In other news, Zillow (NASDAQ:Z) dropped in pre-market action after pausing its home-purchase business. Omeros (NASDAQ:OMER) also fell, dragged down by a regulatory setback. Elsewhere, CDW Corp. (NASDAQ:CDW) ticked higher after announcing a $2.5B acquisition. Decliners Disappointing results pushed Philips (PHG) lower in pre-market action. The stock dipped 2% after the company's adjusted EBITDA fell from last year. Revenue also declined, sliding nearly 6% and missing expectations. Zillow (Z) has been forced to halt its home-flipping business due to a lack of capacity. According to Bloomberg, the company has reached the limit for its Zillow Offers business and won't make additional deals to purchase homes at this time, allowing the company to work through its current backlog. Hurt by the news, shares
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Hot Stocks: PHG, ACI earnings; Z pauses house flipping; OMER FDA ruling; CDW acquisition