Charles River Laboratories Slashes FY24 Outlook - Update

While reporting financial results for the first quarter on Thursday, Charles River Laboratories International, Inc. (CRL) reaffirmed its adjusted earnings, revenue growth and organic revenue growth guidance range for the full-year 2024.

Biopharmaceutical company DURECT Corp. (DRRX) announced Monday that it has entered into a co-marketing and collaboration agreement with Charles River Laboratories International, Inc. (CRL) for the ALZET Osmotic Pumps Portfolio and Associated Product Line in the U.S. and Canada.

While reporting financial results for the first quarter on Thursday, Charles River Laboratories International, Inc. (CRL) narrowed its earnings, adjusted earnings, revenue growth and organic revenue growth guidance range for the full-year 2023.

While reporting financial results for the first quarter on Thursday, Charles River Laboratories International, Inc. (CRL) raised its adjusted earnings, revenue growth and organic revenue growth guidance for the full-year 2023, to reflect the strong first-quarter financial performance and expectations for the remainder of the year that are largely consistent with its initial outlook.

While reporting financial results for the second quarter on Wednesday, Charles River Laboratories International, Inc. (CRL) slashed its earnings, adjusted earnings, revenue growth and organic revenue growth guidance for the full-year 2022, due primarily to headwinds associated with the CDMO business, foreign exchange, and interest expense due to the rising interest rate environment.

The Singapore stock market on Monday ended the three-day winning streak in which it had collected more than 30 points or 0.8 percent. The Straits Times Index now sits just above the 3,730-point plateau although it's likely to bounce higher again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues. For the day, the index lost 12.15 points or 0.32 percent to finish at 3,732.55 after trading between 3,727.94 and 3,754.82. Among the actives, CapitaLand Integrated Commercial Trust skidded 1.01 percent, while CapitaLand Investment advanced 0.72 percent, City Developments added 0.39 percent, DBS Group retreated 1.26 percent, DFI Retail surged 3.42 percent, Hongkong Land tanked 2.14 percent, Keppel DC REIT sank 0.45 percent, Keppel Ltd rose 0.30 percent, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust rallied 0.81 percent, SATS plunged 2.60 percent, Seatrium Limited declined 1.08 percent, SembCorp Industries tumbled 1.37 percent, Singapore Technologies Engineering plummeted 5.52 percent, SingTel dropped 0.63 percent, Thai Beverage jumped 0.97 percent, Wilmar International spiked 1.31 percent, Yangzijiang Shipbuilding slumped 0.79 percent and Emperador, Genting Singapore, Yangzijiang Financial, Frasers Logistics & Commercial Trust, Oversea-Chinese Banking Corporation, Frasers Centrepoint Trust, Mapletree Logistics Trust and Comfort DelGro were unchanged.

The Malaysia stock market on Monday snapped the two-day slide in which it had slumped almost 20 points or 1.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it's tipped to open in the green again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The KLCI finished modestly higher on Monday following gains from the telecoms and plantations, while the financial and industrial sectors were mixed. For the day, the index improved 11.60 points or 0.73 percent to finish at 1,604.04 after trading between 1,591.49 and 1,605.41. Among the actives, Axiata rallied 1.34 percent, while Celcomdigi strengthened 1.20 percent, CIMB Group was up 0.24 percent, Genting gained 0.53 percent, Genting Malaysia jumped 1.42 percent, IHH Healthcare eased 0.14 percent, IOI Corporation accelerated 1.53 percent, Kuala Lumpur Kepong gathered 0.46 percent, Maxis surged 3.78 percent, Maybank dipped 0.19 percent, MISC sank 0.66 percent, MRDIY added 0.55 percent, Nestle Malaysia slid 0.20 percent, Petronas Chemicals fell 0.22 percent, PPB Group dropped 0.70 percent, Press Metal skyrocketed 6.59 percent, Public Bank collected 0.67 percent, QL Resources improved 0.84 percent, RHB Bank rose 0.47 percent, Sime Darby perked 0.45 percent, SD Guthrie soared 2.29 percent, Sunway spiked 1.72 percent, Telekom Malaysia increased 0.48 percent, Tenaga Nasional climbed 1.13 percent, YTL Corporation shed 0.51 percent and YTL Power was unchanged. The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.

The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had plunged almost 250 points or 5.8 percent. The KOSPI now sits just beneath the 2,470-point plateau and it may tick higher again on Tuesday.