Universal Display Killed After Earnings (PANL)

Shares of Universal Display Corporation PANL have been smashed after the company reported earnings on Monday after the closing bell. The stock is down 18.56% to $46.18 as investors have been rushing to exit the name. PANL reported a first-quarter net loss of $11.9 million or $0.31 per share, compared to $3 million or $0.08 per share in the year ago quarter. Seven analysts had a consensus EPS estimate for a loss of $0.03 heading into the report. Revenues for the quarter came in at $9.6 million versus $4.2 million in the year ago period. This came in ahead of analysts' consensus revenue estimates of $9.24 million, but was not enough to keep investors from driving the share price down.