Cheap Tickets Tumbles on Warning

Cheap Tickets (CTIX), an online discount travel company, was down 27.8% after the company warned second-quarter revenue and earnings would be significantly below estimates.

The company expects earnings of 4 to 5 cents a share on revenue of $27.5 million to $29 million. Analysts expected earnings of 22 cents, according to Thomson Financial/First Call. The company blamed the lowered outlook on technology related problems that hurt online transactions.

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