Diamonds and Dogs
2/21/2013
VeriFone Systems Inc. (PAY)VeriFone's card is being declined today, down 42.80% at $18.24. The electronic payment service company saw its shares crash after profit forecasts trailed analyst estimates. VeriFone announced that they were expecting earnings for the quarter ending in April to be between $0.45 and $0.50 per share. Analysts were expecting the company to have earnings of $0.80 per share. Gil Luria, analyst with Wedbush Securities Inc. said, ""The preannouncement is very bad; they are missing their targets by a very wide margin, the macroeconomic conditions are certainly not enough to explain such a dramatic shortfall." VeriFone set a new 52-week low by nearly $10.00, with the company's previous low being $27.33.
Treehouse Foods Inc. (THS)
Treehouse Foods is climbing higher today, up 10.12% at $58.23. The North American food manufacturer saw its shares get into the green after a positive earnings report. Treehouse announced revenue increased 10.63% to $592.78 million, or $0.86 per share. Wall Street was expecting the company to earn revenue of $577.9 million, with an EPS of $0.86. Treehouse CEO, Sam Reed said, "We had a solid finish to the year and are encouraged by the fourth quarter revenue growth across nearly all of our categories. Despite continued sluggish performance in the U.S. grocery industry, we are very pleased with the 8.7% growth in volume/mix in our North American Retail Grocery segment." Treehouse is getting up near its 52-week high of $63.67.
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