This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks in Motion: CKX

Updated from 11:21 a.m.

Shares of Movie Gallery (MOVI) were among the Nasdaq's losers Wednesday, falling 15.4% after the company warned of weak second-quarter sales.

The video rental company said that recent weakness in the home video release schedule is having a "significant adverse impact" on its results. Previously, the company said that same-store sales would be down just slightly. Movie Gallery also said that an "unimpressive slate of titles" coming from movie theaters would continue to hurt sales over the next few months. Analysts polled by Thomson First Call are expecting second-quarter earnings of 54 cents a share on sales of $522.6 million. Shares traded down $5.05 to $27.84.

CKX (CKXE) fell 1.6% after the company said it would sell 20 million shares at $11 apiece, a 20% discount to Tuesday's closing price. CKX plans to use about $150 million in proceeds to repay most of its outstanding debt. Some $36 million will be used to satisfy the deferred consideration obligation that is part of its acquisition of 19 Entertainment; the remaining $15 million will be used for working capital purposes. Shares traded down 22 cents to $13.50.

Shares of Littelfuse (LFUS - Get Report) fell 0.7% after the company cut its second-quarter guidance. The circuit protection products company now expects earnings of 18 cents to 20 cents a share on sales that will be roughly flat with first-quarter sales of $122 million. Littelfuse previously forecast earnings of 28 cents to 32 cents a share on an 8% sequential jump in sales. Analysts had been expecting earnings of 30 cents a share on sales of $129.6 million. The company blamed its poor outlook on weakness in electronic distributor sales in North America and China. What's more, after a strong April, automotive sales have also weakened in North America and Europe, it said. Shares traded down 20 cents to $29.40.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EAGL $12.00 3.00%
AMTD $37.26 -0.56%
F $14.87 -0.80%
LFUS $95.79 0.28%
LNN $87.97 0.77%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs