Invisalign Maker Sinks on Soft China Sales, Slower Teen Growth
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Align Technology Inc. said a “tough consumer environment” in China and slower growth among North American teens led the maker of teeth straighteners to miss its forecast for second-quarter Invisalign case shipments and remain “more cautious” on its outlook for the Asia Pacific region this quarter.
Shares of Align sank 23% in extended trading Wednesday, as third-quarter views for revenue and earnings also trailed analyst estimates. If that decline holds through tomorrow’s trading, it would the stock’s biggest post-earnings decline in at least a decade.