Black Box Corporation (NASDAQ:BBOX) warned shareholders that it may file for bankruptcy. The tech solutions provider has around US$156mln in borrowings outstanding, according to an SEC filing.
The company said it may not have enough cash to keep going until the end of 2018. Shares of the Pittsburgh-based company fell nearly 40% to US$1.22.
AZZ Inc (NYSE:AZZ) shares jumped following better-than-expected first-quarter earnings, reporting a more than 25% jump in revenue on a year-over-year basis. The specialty electrical equipment manufacturer reported earnings of US$0.60 per share on revenue of US$262.2mln, surpassing consensus earnings estimates of US$0.47 per share on revenue of US$219.1mln.
The company said it was "somewhat optimistic" but cautious about the impending trade situation with China. Shares of the Texas-based company were up nearly 10% to US$47.80.
Acuity Brands Inc (NYSE:AYI) also saw its shares soar on strong fiscal third-quarter earnings.
The lighting company reported adjusted earnings of US$2.37 per share on revenue of US$944mln, beating analyst estimates of US$2.17 on revenue of US$899mln.
The Atlanta-based company forecasts improvement in the North American lighting market. Shares of Acuity were up nearly 14% to US$133.20.
Novelion Therapeutics Inc (NASDAQ:NVLN) is shaking up its leadership.
The biopharmaceutical company has disbanded the office of the CEO, which was comprised of Dr. Mark Corrigan, COO Jeff Hackman and former chair Jason Aryeh. The company has appointed Corrigan as the executive chair of the board of directors. Novelion has two on-market rare disease therapies in its portfolio. Shares of the Vancouver-based company fell more than 5% to US$3.76.