Gordmans Stores, Inc. (NASDAQ:GMAN) stock plummeted
18.72% to $16.80 after the company provided weak outlook for the third quarter.
The company posted second-quarter profit of $3.5 million or $0.18 per share
from $2.9 million or $0.15 per share in the same quarter last year. Revenues
for the quarter grew 9.6% to $128.2 million from $117.0 million in the
corresponding quarter last year. Analysts expected earnings of $0.18 per share
on consensus revenue estimate of $131.2 million.
Zumiez Inc. (NASDAQ:ZUMZ) shares declined 8.57% to
$29.46 after the company posted second-quarter profit of $2.1 million, or $0.07
a share, from $2.6 million, or $0.08 a share, in the year-ago period. Revenue
increased to $135.1 million from $112.2 million in the same quarter last year.
Analysts estimated a quarterly profit of $0.13 a share on revenue of $134.9
million.
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ZUMZ Bounce Back? Find Out Here
Groupon Inc (NASDAQ:GRPN) shares climbed 0.91% to
$4.23 in the early hour despite Groupon and LivingSocial Inc. were sued by a
patent owner that claimed the companies are infringing protected technology for
mobile-phone advertising. XcellaSave
Inc. is seeking a jury trial and unspecified damages from Groupon and
LivingSocial, according to two lawsuits filed yesterday in federal court in Delaware.
A123 Systems, Inc. (NASDAQ:AONE) shares declined
1.54% to $0.256. The company last week received notice from the Nasdaq that its
stock price is too low for exchange standards and will be delisted if it does
not recover to $1 in the next six months. The company has until February 19 to
increase its share price back to $1, which it breached more than a month ago.
China Precision Steel, Inc. (NASDAQ:CPSL) stock
plunged 17.75% to $2.78. The company this week announced today that it effected
a reverse split of its common stock at a ratio of 1 share of common stock for
every 12 shares. The reverse stock split became effective just prior to market
open on Tuesday, August 28, 2012. The company’s common stock will continue to
be traded on the NASDAQ Capital Market under the symbol “CPSL”. CPSL’s Board of
Directors were authorized by CPSL stockholders to effect the reverse split at
the annual meeting of stockholders held on June 29, 2012.
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