Today's Big Losers: CMLS, CKEC, NSTC, TNL Tuesday, November 3, 3:50 PM ET
Radio broadcaster Cumulus Media (NASDAQ:CMLS) posted a third quarter loss of 3 dollars and 56 cents per share. That compares to earnings of 14 cents in the same quarter last year. Net revenue fell 18 and a half percent year over year. Shares plunged 22 and a half percent in trading on Tuesday.
Carmike Cinemas (NASDAQ:CKEC) reported a loss of a dollar 63 per share, which compares to a two cent loss in the same quarter last year. A weak box office this quarter as compared to last year weighed on results, as did a large impairment charge and higher than expected theatre operating costs. Shares fell almost 27%.
Shares of Ness Technologies (NASDAQ:NSTC) fell more than 16 and a half percent, after the company reported its third quarter results and lowered its forward guidance. The company earned just 2 cents per share, down from 41 cents in the same quarter last year. Revenue plunged 19% year over year, hurt by weaker than expected results in Europe. Ness said its results were hurt by the weak economy, but that it does see signs of recovery.
Electronics components producer Technitrol (NYSE:TNL) posted a 28 cent loss for the quarter, as compared to earnings of 13 cents in the same quarter last year. Net sales plummeted 40% year over year, but rebounded just over 10% from the prior quarter. Technitrol shares fell about 15%.
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