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Here’s Why Wright Medical (WMGI) Stock Is Jumping Today

NEW YORK (TheStreet) -- Shares of Wright Medical (WMGI) were spiking 13.17% to $23.97 late Wednesday morning after the company posted a narrower-than-expected loss for the 2016 second quarter.

After yesterday's closing bell, the Arlington, TN-based specialty orthopaedic company reported an adjusted loss of 11 cents per share, smaller than the loss of 22 cents per share that analysts had expected.

Revenue for the period was $170.7 million, slightly below analysts' forecasts of $172.5 million.

For 2016, Wright Medical sees a loss between 47 cents and 54 cents per...