The Talbots Inc. (NYSE: TLB) is having an awful day in the markets and on very strong volume. The earnings report and the guidance are to blame. While profits rose 17%, lower revenue and lower guidance is a drag and then some.
Earnings were $0.27 EPS and revenue was $299.1 million, while Thomson Reuters was calling for $0.25 EPS and $303.1 million in revenues. Guidance was put at a loss for the coming quarter and that translates to an annual guidance of $0.70 to $0.78 EPS against a Thomson Reuters estimate of $0.87 and a prior forecast of $0.84 to $0.92.
At 11:40 AM EST we have shares down over 19% at $9.21 against a 52-week trading range of $6.81 to $17.79. More importantly, the volume is already over 18.5 million, more than six-times than the 3.05 million shares on an average trading day.
We are seeing a move in options trading as well, although many trades are mixed. The DEC-2010 CALLS showed the following:
CALL$   Volume   OpInt
9.00Â Â Â 1,183Â Â Â 653
10.00Â Â Â 1,227Â Â Â 3,377
11.00Â Â Â 1,469Â Â Â 5,652
Elsewhere, the JAN-2011 CALLS:
CALL$   Volume   OpInt
10.00Â Â Â 1,389Â Â Â 2,344
11.00Â Â Â 1,122Â Â Â 2,321
Even the JAN-2012 CALLS are active:
CALL$   Volume   OpInt
15.00Â Â Â 2,055Â Â Â 3,721
JON C. OGG
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