Star Bulk Carriers Falls Short of Consensus and 1 Stock Dipping to 52-Week Lows
Ntelos Holdings (NASDAQ:NTLS), a regional wireless retailer, saw its shares plummet following the research firm FBR’s prediction that the company’s collaboration with Sprint Nextel Corporation (NYSE:S) would not be renewed at its 2015 expiration. FBR pointed out that Ntelos gets the majority of its profits from its partnership with the carrier through the Sprint Strategic Network Alliance, and downgraded the retailer from Market Perform to Underperform Friday morning in a note to investors, along with slashing its price target on NTELOS from $21 to $5, while predicting that the firm would not be able to sustain its dividend without the alliance. Shares closed down 20.22 percent on the day at $12.90, but have traded in a 52-week range of $14.02 to $25.02.
Star Bulk Carriers (NASDAQ:SBLK) posts its third quarter adjusted earnings per share of 70 cents, with a consensus of 77 cents. Shares closed down 7.95 percent on the day at $6.83, having been traded in a 52-week range of $6.12 to $18.90.
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