elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
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| Posted: Wed Nov 03, 2010 11:07 am Post subject: More Trouble for Overstock.com |
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Overstock.com has now had two consecutive failures to meet Wall Street analysts’ consensus expectations. Last Friday morning, Overstock.com (NASDAQ: OSTK) stunned investors and reported a Q3 2010 $3.381 million loss or a loss of $0.15 per share compared to a Q3 2009 reported loss of $1.379 million or a loss of $0.06 per share. The company failed to meet Wall Street consensus analysts' expectations for earnings, too.
Overstock.com’s reported loss of $0.15 per share was five times greater than analysts' expectations of a $0.03 per share loss. That same day, shares of Overstock.com tumbled $2.46 per share or 15.5% lower to close at $13.41 per share. The company’s market capitalization (shares outstanding multiplied by the market price per share) dropped over $55 million in a single day.
It was the second consecutive quarter that Overstock.com failed to meet Wall Street analysts’ consensus expectations for earnings.
Previously, Overstock.com reported a Q2 2010 loss of $1.4 million or a loss of $0.06 per share compared to a Q2 2009 reported profit of $319,000 or $0.01 per share. Overstock.com’s reported loss of $0.06 per share was far worse than analyst expectations of a $0.04 per share loss or a 50% higher loss than expected.
more.. link to news article |
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