Here’s Why Castlight Health's Shares Got Cut in Half Today
Shares of Castlight Health (NYSE: CSLT) are down a whopping 48% at 3:18 p.m. EDT following disappointing second-quarter earnings that were announced after the closing bell yesterday.
The health navigation expert also named a new CEO, Maeve O'Meara, who was serving as executive vice president of product and customer experience, following the departure of former CEO John Doyle. Chief financial officer Siobhan Nolan Mangini will also take on the role of the company's president.
Castlight Health's new management lowered 2019 guidance and now expects to bring in $140 million to $145 million this year, down from previous guidance of $153 million to $158 million. On the bottom line, management now expects to lose between $0.06 and $0.09 per share on an adjusted basis, compared to previous guidance for an income of $0.00 to $0.03 per share.
Quelle Fool.com
