- Co issues lowered guidance for FY15 (Dec), sees EPS of $7.65-8.15 from $8.82-9.52 vs. $9.34 Capital IQ Consensus Estimate; sees FY15 (Dec) revs of $2.165-2.190 bln from $2.205-2.24 bln vs. $2.22 bln Capital IQ Consensus Estimate.
- Core adjusted EBITDA from continuing operations between $460 million and $475 million, compared with the prior range of $490 million to $510 million
- Redbox revenue between $1.750 billion and $1.765 billion, compared with the prior range of $1.790 billion to $1.815 billion.
- “While Redbox has driven improvements in both unique customers and total rentals during the first two months of the fourth quarter relative to the third quarter, the business has not met the company’s performance expectations and continues to remain challenged by the historically low box office during the third quarter,which was the worst theatrical box office in Redbox kiosks in four years.”
- Co also announced that Mark Horak is leaving the company. Erik Prusch, Outerwall’s chief executive officer, will serve as interim president of Redbox until the position is filled. The company will initiate a search process to fill the role.
- Co has also made the decision to discontinue its SampleIt concept.
Courtesy of Briefing.com
Fortunately I don’t sit at the computer all day looking for a trade, but now and then that can cost you money. The post above tells the story.
OUTR dropped from 58.00 to 40.55 in three minutes. 40.75 was support. Unfortunately, I missed it.
I did buy small at 44.11 and added some more this morning at 45.10.
Support levels are 40.75, 38.90 and 37.50.
Initial target is 49.25 and then 56.00.