Advertisements

Shares of Zepp Well being Corp.
ZEPP,

dropped 4.0% in premarket buying and selling Friday, after the China-based good well being know-how firm minimize its fourth-quarter income outlook, citing a “better than anticipated results of COVID” and a extra persistent international scarcity of semiconductors. The corporate now expects fourth-quarter income of between RMB1.6 billion ($252.0 million) and RMB1.75 billion ($275.6 million), in contrast with earlier steering of between RMB1.75 billion and RMB2.0 billion. The corporate mentioned it nonetheless expects to be worthwhile. Individually, the corporate mentioned it has repurchased $3.6 million price of its inventory since Nov. 16, when it introduced a $20 million inventory buyback program. Zepp’s inventory has tumbled 57.4% this 12 months, whereas the iShares MSCI China ETF
MCHI,
-0.60%
has dropped 22.0% and the S&P 500
SPX,
-0.26%
has soared 27.2%.

Source link