WebMD Health Corp. (NASDAQ: WBMD) is in the penalty box no matter how you cut it. The company has a triple whammy this morning. On top of lowering its 2012 guidance, the company has announced that it is no longer for sale after failing to reach interest from prospective buyers for the health care information service provider.
To make matters even worse or less solid, the news is also out that Wayne Gattinella has resigned as Chief Executive Officer and President of the company and has also resigned from the company’s board of directors. The current Chief Financial Officer is Anthony Vuolo and he will step in to serve as the company’s Interim CEO during the time that the board of directors seeks a permanent chief executive officer.
WebMD shares closed at $36.73 on Monday and the 52-week trading range is $25.56 to $58.55. Shares in the pre-market are indicated lower by almost 25% and the last print on more than 825,000 shares with about 50 minutes until the open was $27.65.
JON C. OGG
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