Coinstar Down on EPS – Netflix Fell In Sympathy (CSTR)
|Coinstar AH trading|
Coinstar took a hit after hours, on a reality check Q4 EPS…. Coinstar sees Q4 GAAP EPS 65c-69c vs. consensus 84c on Q4 revenue $391M vs. cons $426.64M.
As the stock was un-halted she opened down 32% to the 38$ level, then bounce to 43 in a very active after hours session.
The company stated:
“Overall, the performance of the redbox business during the Q4 was not in line with our forecast. This was redbox’s first holiday season with 28-day delayed titles, and we underestimated the impact that the delay would have on demand during the Q4. We also expected much better performance from Blu-ray and had purchased to a higher level of demand. While consumer visits to the kiosks remained strong, the number of movies per visit, or basket size, was lower than planned.”
Netflix initially moved down after hours before bouncing on a sympathy trade and possible earnings preview into NFLX. NFLX traded down to 187 before bouncing to back to 190, tomorrow will be interesting.