Xyratex expects lower Q3 earnings, stock down 10%
Xyratex Ltd. (Nasdaq:XRTX) shares traded heavier than normal as the stock dipped 10% in Thursday trading after the U.K.-based company announced late Wednesday its third-quarter results would fall short of analyst estimates. The data storage business expects earnings between $0.35 and $0.47 per share for the quarter ending August 29, though analyst estimates place earnings per share at $0.62. The stock is currently down 10% at $16.54 per share. Volume was at more than 774,000 shares.
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