Market Preview: One Bad Apple
This one would be almost impossible to script. The company gives an official guidance for between a loss of 10 cents a share to earnings of 14 cents a share for the third quarter yet makes this statement: ""Q3 has begun strongly for us, and we expect to be profitable again in Q3. In Q4, we will launch our next international market, which will drive us temporarily back into the red."
So do they expect a profit in the third quarter or not? With the stock down more than 15% in heavy after-hours action, it seems like many investors are unwilling to hang around and see how the whole mess turns out.
--Written by Michael Baron in New York.
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