Filed under: Major Movement, Earnings Reports, Forecasts, Bad News, Technical Analysis
LeapFrog Enterprises (LF) plummeted more than 25% this morning, after the company warned that its full-year earnings will fall below Wall Street’s expectations. The maker of educational toys expects to bank a profit of 3 cents to 6 cents per share for fiscal 2010, way below analysts’ consensus estimate of 28 cents per share.
“After a solid start to the holiday season, demand softened late in the quarter relative to our expectations,” explained CEO Bill Chiasson. “While sales of interactive reading products continued to grow at retail, the growth was less than we had forecasted and contributed to lower earnings growth than expected.”
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LeapFrog Takes a Nosedive on Weak FY Forecast originally appeared on BloggingStocks on Wed, 12 Jan 2011 14:00:00 EST. Please see our terms for use of feeds.







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