Diamonds and Dogs
Chegg (CHGG) chugging along. The online tutoring, textbook and other educational service company is up 9% to a new all-time following better than expected earnings. Chegg easily beat earnings expectations as sales 30% to $95.68 million. The company also raised first quarter and full year guidance. It is fourth time in the last four quarters Chegg has come in above Wall Street expectations. Management said they have entered the year with strong momentum, giving them confidence to raise guidance as they focus on our mission of helping students improve their outcomes.
Gilead (GILD) going the wrong way. The biotech drug maker is down 5% not far from a 52 week low after their new liver disease drug Selonsertib failed in Phase 3 trials. Selonsertib is an investigational drug taken orally that was expected to treat patients with compensated cirrhosis caused by nonalcoholic steatohepatitis, or NASH, a chronic and progressive liver disease characterized by fat accumulation and inflammation in the liver. Gilead remains committed to advancing therapies for patients with advanced fibrosis due to NASH, but the company needs some wins to turn business and the stock around.