Netgear stock drops more than 10% amid sales slump, China COVID lockdowns


Source: marketwatch.com marketwatch.com

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Netgear Inc. shares dropped more than 10% in the extended session Monday after the network equipment and router company cut its outlook citing a drop in consumer sales and supply-chain problems from COVID lockdowns in China. Netgear NTGR, +2.62% shares were last down 13% after hours, following a 2.6% rise to close the regular session at $23.14. As of Monday’s close, shares are down 41% over the past 12 months, versus a 4.9% gain in the S&P 500 Index SPX, -0.02% . After the close of markets, the company said it was cutting forecast fiscal first-quarter revenue to between $202...