(NetApp earnings story updated to reflect more details about the leak and price change)
NetApp shares have tumbled 6.5% to $49.25 in a stark reversal of the stock's advances this morning on positive analyst views on its prospects.
According to market intelligence provider StreetAccount and CNBC, NetApp's second-quarter earnings were leaked before the company was able to make its own announcement after the market close Wednesday.A copy of the presumed leaked income statement, according to StreetAccount, indicates that the company will be reporting earnings of about 52 cents a share, topping the Wall Street consensus estimate of 49 cents a share, if comparable. The supposed leaked statement shows revenue of $1.21 billion vs. the $1.19 billion consensus target, according to StreetAccount. Numerous media outlets have reported the company's earnings ahead of NetApp before the closing bell, subsequent to the leak. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse. >To follow the writer on Twitter, go to Andrea Tse. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV