LLNW - Teladoc Limelight and NCR Are Bouncing Back Today (but They Still Look Cheap)
Several stocks that had taken an earnings-based tumble earlier this week were bouncing back on Friday. For example, remote health services expert Teladoc Health (NYSE: TDOC) saw share prices rise as much as 7% today. Content delivery network specialist Limelight Networks (NASDAQ: LLNW) reached a peak gain of 11.8%. Kiosk and ATM maker NCR (NYSE: NCR) surged even higher, briefly touching an 18% increase in the morning session.
These positive moves stand out on a day when the S&P 500 market index is down by 2.4%, and the more growth-oriented Nasdaq Composite index dipped 2.8% lower. In other words, the stocks are not riding a marketwide surge today. The motivation for these gains comes from other sources.
To recap, all three of these stocks crashed hard after publishing earnings reports this week. Limelight's management didn't provide a guidance update based on a buyout that is still on the works. NCR's sales were limited by several factors outside the company's control. Teladoc's earnings were decimated by an accounting adjustment based on the stock's recent downtrend -- triggering another sharp drop. Even after today's significant rebound, these stocks are still underwater compared to last Friday's closing prices:
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Teladoc, Limelight, and NCR Are Bouncing Back Today (but They Still Look Cheap)