Shares of AthenaHealth (ATHN) tumbled in extended trading after Hedge Fund Manager David Einhorn said he is shorting the stock, betting the healthcare software provider could fall as much as 80% from its recent high of $204 a share in March. Speaking yesterday at the Sohn Investment Conference, Einhorn said AthenaHealth's stock is "simply at the wrong price."
Shares of Office Depot (ODP) were up sharply in pre-market trading. The office supply retailer raised its earnings outlook for the year. Office Depot also said it will close 150 U.S. stores by the end of this year and at least 400 U.S. stores by the end of 2016. The company is reorganizing its operations after it merged with Office Max last year.
We're also watching shares of DirecTV (DTV) after the company beat earnings estimates before the bell. The satellite TV provider posted first quarter earnings of $1.63 a share, blowing past analysts’ estimates. However, revenue came up just short of the $7.91 billion Wall Street was expecting. The company has been looking more appealing to investors recently on speculation that AT&T (T) is interested in buying DirecTV.
And we're watching Apple (AAPL) today after the company's stock closed above the $600 mark for the first time since late 2012. Apple shares have soared more than 30% over the past year. Investors' appetite for the stock has been growing once again after Apple’s latest quarterly profits came in better than expected. The company also recently increased its stock buybacks and is rewarding shareholders with bigger dividends. Apple also said it plans to split its stock 7-for-1 in June.
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