C&D Technologies sinks after widely missing Street Q2 estimates
C&D Technologies Inc. (NYSE:CHP) plunged nearly 19% after the company widely missed analysts’ estimates for its second-quarter earnings, despite swinging to a profit.
The Blue Bell, Pa.-based producer of electrical power storage and conversion products reported just after the market closed on Monday that it earned $1.2 million, of $0.05 per share, compared with a net loss of $3.1 million, of $0.12 per share, in the prior year second quarter.
Analysts polled by Thomson First Call on average were expecting earnings per share of $0.12 for the quarter ended July 31.
By mid-day, the stock was down $1.44 on unusually heavy volume to $6.25. Shares have ranged between $4.06 and $9.52 during the past 52 weeks.
For detailed price information and news stories on C&D Technologies, click CHP.
