UP AFTER EARNINGS: CarGurus (CARG), up 9.8%... Westport (WPRT), up 8.7%... Synacor (SYNC), up 8.7%... Beazer Homes (BZH), up 4.4%. ALSO HIGHER: Lam Research (LRCX), up 2.1% after it announced a $2B share buyback plan and raised its quarterly dividend 11%... HP Enterprise (HPE), up 1.4% Greenlight Capital disclosed that it increased its stake in the company... Synchrony Financial (SYF), up 1.3% after Berkshire Hathaway raised its stake in the company. DOWN AFTER EARNINGS: A-Mark Precious Metals (AMRK), down 12.6%... Macom (MTSI), down 7.7%... NovaBay (NBY), down 5.6%. ALSO LOWER: Achillion (ACHN), down 8.4% after it filed to sell 18.4M shares of common stock for holders... Genpact (G), down 2.8% after it filed to sell 10M shares of common stock for holders.
"Although demand for physical precious metals products remains subdued industrywide, we believe we are gaining market share and continue to look for ways to do more business in this environment," said company CEO Greg Roberts. "To that end, we are judiciously investing in growth areas to further diversify our business and offerings, with the objective of being in a stronger position to capitalize on profitable opportunities when market conditions improve. One recent example of this strategy is our acquisition of Goldline, a leading direct retailer of precious metals to the investor community, which we completed at the end of August. While the costs associated with the acquisition adversely affected our results for the first quarter, we believe the acquisition presents a substantial opportunity for us to leverage Goldline's marketing platform to upsell and cross-sell our suite of services to their 150,000 clients and prospective client leads."
Reports Q1 revenue $2.16B, may not compare to consensus $1.65B. Gold ounces sold decreased 37% to 332,000 ounces from 530,000 for the three months ended September 30, 2016 and increased 14% from 290,000 for the three months ended June 30, 2017. Silver ounces sold decreased 33% to 14.5 million ounces from 21.8 million ounces for the three months ended September 30, 2016 and increased 3% from 14.1 million from the three months ended June 30, 2017.