WW - Hot Stocks: TRMR CARA drops on earnings; WW jumps nearly 80%; TDW hits 52-week high

2023-03-07 18:27:09 ET

Stocks finished sharply lower on Tuesday, weighed down by hawkish comments from Federal Reserve Chair Jerome Powell. The Dow led the major averages lower, falling by 1.7%.

Looking at individual stocks, WW International ( NASDAQ: WW ) jumped almost 80% after announcing a major acquisition. Meanwhile, Tidewater ( TDW ) added to recent gains to set a new 52-week high.

On the downside, Tremor International ( TRMR ) and Cara Therapeutics ( CARA ) plunged on their respective quarterly results.

Standout Gainer

A wave of buying interest carried WW International ( WW ) higher by 79% after the company issued quarterly results and announced the acquisition of a telehealth platform.

The owner of the Weight Watchers weight loss brand announced a mixed quarterly report, which included a nearly 20% drop in its Q4 revenue. However, the company also announced the purchase of Sequence, a telehealth firm focused on weight issues.

Bolstered by the news, WW surged $3.06 to finish at $6.93. With the advance, the stock jumped to its highest finish since mid-August. Still, the stock remains lower by 32% over the past year.

Standout Decliner

Dragged down by weak quarterly results, Tremor International ( TRMR ) experienced a notable downdraft. Shares of the advertising technology company slumped 13%.

TRMR reported a Q4 profit that came in below expectations . Revenue edged up 5% to nearly $108M.

Looking ahead, the company lowered its adjusted EBITDA outlook, saying it now expects a 2023 figure of between $140M and $145M. TRMR said it expects global advertising demand to remain constrained in the first half of the year and potentially longer.

TRMR finished trading at $6.56, a decline of 99 cents on the day. With the slide, the stock dropped to its lowest close since early January.

Notable New High

Tidewater ( TDW ) extended recent gains with an advance of nearly 6%. With the upswing, the stock reached a new 52-week high.

The oil transportation company finished trading at $51.78, rising $2.84 on the day. The stock also hit an intraday 52-week high of $51.88. The advance extended a recent upswing, with the stock up 13% in the past week.

In late February, the company announced its Q4 results and issued strong guidance for 2023 .  Overall, TDW has climbed 51% in 2023 and more than 180% over the past 12 months.

Notable New Low

Disappointing results sparked selling in Cara Therapeutics ( CARA ). Shares of the biotech plummeted 33% after the company reported a wider-than-expected loss and said it had enough cash on hand to operate to the first half of 2024.

CARA revealed a Q4 loss that narrowed from last year but still missed expectations. Revenue also came in below projections.

The financial figures sent the stock crumbling $3.33 to close at $6.69. During the session, the stock reached an intraday 52-week low of $6.58.

For more of the day's biggest winners and losers, turn to Seeking Alpha's On The Move section .

For further details see: