Cerner Shares Drop Following Outlook, Earnings

Cerner Corp. shares fell in the extended session Tuesday after the high end of the health-care information technology company's forecast earnings range matched Wall Street estimates. Cerner shares dropped 14% to $47.85. The company estimated adjusted first-quarter earnings of 52 cents to 54 cents a share on revenue of $1.15 billion to $1.2 billion. Analysts expect 54 cents s share on revenue of $1.18 billion. Cerner reported adjusted fourth-quarter earnings of 61 cents a share on revenue of $1.18 billion. Analysts surveyed by FactSet had forecast $1.17 billion.