Shares of Cryoport, Inc. (Nasdaq: CYRX) plummeted over 20% as the company presented a negative outlook for its upcoming financial results. Cryoport attributed the decline to weaker-than-expected global demand for capital equipment, delays in clinical trial starts, and slower ramps from certain clients.

The company anticipates its second-quarter 2023 revenue to fall within the range of $56.5 million to $57.5 million, which is below the consensus estimate of $67.44 million.

Furthermore, Cryoport revised its full-year 2023 revenue guidance to a range of $233 million to $243 million, down from the previous range of $270 million to $290 million. Analysts had projected revenue of $274.85 million for the period.

In pre-market, $CYRX is currently trading at $13.72, reflecting a notable decline of $5.68 (29.28%).

In other news, Conagra Brands, Inc. (NYSE: CAG) reported adjusted earnings per share (EPS) of $0.62 for the fourth quarter of fiscal 2023, surpassing the consensus estimate of $0.59.

Looking ahead to the full-year fiscal 2024, Conagra Brands provided its guidance and expects adjusted EPS to range from $2.70 to $2.75. However, this projection falls slightly below the consensus estimate of $2.85 for the period.

$CAG is currently trading at $32.56 in pre-market, down $0.42 (1.27%).

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)