Quidel's Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: This is a one-two combination: Quidel reported analyst-crushing third-quarter revenues with an adequately small net loss and also announced FDA clearance to sell a new line of fluorescent flu-virus detectors.
Now what: The Sofia flu tester was approved for European sales in August, so production lines are already rolling. Fellow diagnostic-equipment expert Alere (NYS: ALR) also reported a fine quarter on Tuesday night, so it looks like hospitals aren't shy to invest in lab equipment these days. Investors were quick to jump to this conclusion as well, as Nanosphere (NAS: NSPH) shares also gained nearly 10% on no news of its own.
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At the time this article was published Fool contributorAnders Bylundholds no position in any of the companies mentioned. We Fools don't all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check outAnders' holdings and bio, or follow him onTwitterandGoogle+. We have adisclosure policy.
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