MiMedx Group Inc (NASDAQ:MDXG) (The Motley Fool)
What happened: Shares of MiMedx Group (NASDAQ:MDXG), a regenerative medicine company, dropped as much as 22% in early morning trading on Monday. As of 11:10 a.m. EST, the stock was down 13%. The fall is tied to a news report today that the company is under investigation by the U.S. Department of Justice. So what: Bloomberg reported on Monday morning that federal authorities are looking into MiMedx’s government sales practices.
Dean Foods Co (NYSE:DF) (MarketWatch)
Dean Foods Co. shares DF, -13.18% slid 10% in premarket trade Monday, after the company missed earnings estimates for the fourth quarter and offered guidance that was below consensus. The company said it had net income of $52.3 million, or 54 cents a share, in the quarter, up from $32.8 million, or 36 cents a share, in the year-earlier period. Adjusted per-share earnings came to 25 cents, below the FactSet consensus of 26 cents. Sales fell to $1.49 billion from $1.52 billion, also below the FactSet consensus of $1.96 billion.
NXT-ID Inc (NASDAQ:NXTD) (Benzinga)
NXT-ID Inc jumped 47.9 percent to $3.22. NXT-ID’s subsidiary FitPay and Discover Financial Services announced plans to extend payments to IoT devices.
GTT Communications Inc (NYSE:GTT) (Barron’s)
GTT Surges on Interoute Buy: Speaking of telecom, shares of network operator GTT Communications (GTT) are up $4, or 8%, at $52, after it announced it will spend €1.9 billion, or roughly $2.3 billion in cash to buy London-based Interoute, one of the largest European operators of fiber-optic network capacity and of data centers. The deal roughly doubles GTT’s size, with Interoute’s $886 million in trailing twelve month revenue comparable to the $715 million that GTT made last year.
IRIDEX Corporation (NASDAQ:IRIX) (Benzinga)
IRIDEX Corporation fell 24.2 percent to $5.55. IRIDEX issued a voluntary recall of TruFocus LIO Premiere™ laser indirect ophthalmoscope.
Berkshire Hathaway Inc. (NYSE:BRK.A) (CNBC)
If Warren Buffett’s company can’t find other ways to deploy the $116 billion in cash it has lying around, it will consider returning some to shareholders. Just don’t expect it to be in the form of a dividend. In a letter to Berkshire Hathaway shareholders released over the weekend, Buffett revealed that the conglomerate has been having a difficult time finding bargains as market prices continue to increase. He told CNBC in an interview Monday that using the cash for share repurchases is not out of the question. “I’m fairly confident that we’ll find ways to deploy money,” he said on “Squawk Box.”
Netflix, Inc. (NASDAQ:NFLX) (Business Insider)
Netflix hit a record high above $295 a share Monday, giving the company a market cap of about $127 billion. Shares of the video-streaming company have gained momentum following a solid fourth-quarter earnings report and the announcement of a $300 million deal with “Glee “and “American Horror Story” producer Ryan Murphy. The company’s negative free cash flow also doesn’t seem to be a concern for investors as Netflix’s subscriber base and revenue growth continue to impress. Investors are expecting positive cash flow to come soon.
Mattel, Inc. (NASDAQ:MAT) (The Motley Fool)
What happened: Shares of Mattel, Inc. (NASDAQ:MAT) fell again Monday after the toy maker received several downgrades from analyst firms and credit reporting agencies. Among them were Fitch and Jefferies, which both lowered their view of the struggling toy company. As a result, Mattel shares were down 4% as of 11:53 a.m. EST, after trading down as much as 8.6% earlier in the day.
General Electric Company (NYSE:GE) (CNBC)
General Electric’s stock briefly fell below $14 in Monday trading as investors reacted to news late Friday that the U.S. Justice Department could take action in connection with alleged subprime mortgage violations. That update, which was made in a filing with the Securities and Exchange Commission, also provided details about the expected restatement of its 2016 and 2017 financial results. Based on this information, some suspect it will be very difficult for GE to reach its 2018 forecast.