10 Unexpected Market Movers – What Propelled Double-Digit Gains?

3. QuidelOrtho Corporation (NASDAQ:QDEL)

QuidelOrtho saw its share price expand by 41.04 percent on Thursday to close at $36.46 apiece after almost wiping out its net losses during the first quarter of the year.

In a statement on Thursday, QuidelOrtho Corporation (NASDAQ:QDEL) said it narrowed its net loss by 99 percent to $12.7 million from $1.7 billion recorded in the same period last year, despite revenues dipping by 2.56 percent to $692.8 million from $711 million year-on-year.

The lag in revenues can be owed to the flat performance of its non-respiratory revenue, which was at $573 million. Meanwhile, respiratory revenues ended at $120 million, marking an 11 percent growth year-on-year.

Looking ahead, QuidelOrtho Corporation (NASDAQ:QDEL) expects revenues to settle anywhere between $2.6 billion and $2.81 billion, with adjusted EBITDA ranging from $575 million to $615 million.

For the full year, the company also targets to book between $30 million and $40 million in tariff impact, which it targets to mitigate through cost actions.