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Why Silver Spring Networks (SSNI) Stock Is Crashing Today

NEW YORK (TheStreet) -- Silver Spring Networks (SSNI - Get Report) stock is tanking Wednesday after management issued weak guidance for its second quarter and full year. 

By late afternoon, shares had fallen 31.3% to $10.52. 

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In its June-ending quarter, the company expects revenue of $60 million to $65 million and net losses of 22 cents to 26 cents a share. Analysts surveyed by Thomson Reuters had forecast net income of 22 cents a share. 

Must Read: Why Astronics (ATRO) Stock Is Up On Wednesday

For the full year, Silver Spring anticipates revenue between $300 million and $330 million with net losses between 15 cents and 30 cents a share. Analysts had expected $317.3 million in sales and a net loss of 25 cents a share. 

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SYM TRADE IT LAST %CHG
SSNI $11.39 -1.40%
AAPL $109.57 -0.72%
FB $87.23 -1.00%
GOOG $598.98 -1.20%
TSLA $243.26 -0.94%

Markets

Chart of I:DJI
DOW 16,131.04 -243.72 -1.49%
S&P 500 1,930.77 -20.36 -1.04%
NASDAQ 4,708.6950 -24.8020 -0.52%

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