Citrix (CTXS) has been down as much as 13% since yesterday's closing bell. The company is lowering guidance for the quarter saying it expects to report adjusted earnings of 68 or 69-cents a share. The consensus had been for 73-cents. As for revenue, Citrix is predicting between $710 and $712-million versus analysts predictions of $737-million. Citrix CEO Mark Templeton is saying only that he's disappointed with results, but remains confident about the company's strategy. He is however promising more details when the company releases full results in about two weeks. Even prior to the drop we're seeing now, Citrix shares are down 2% year-to-date.
Ruby Tuesday (RT) has been down more than 13% since reporting for the quarter after yesterday's closing bell. The restaurant chain had painful losses of 36-cents a share, well below estimates of a 5-cent loss. Revenues were also a miss, but closer to expectations at $290-million. Moving forward, the company anticipates same-store sales for the current quarter to be down in the high single digits, with a slow pick-up after that. As of yesterday's close Ruby Tuesday shares were down 9% year-to-date. By the way, one quick note about the company's larger competitor Darden (DRI). Shares rose 7% yesterday on an activist push to split the company in two.
ARIAD Pharmaceuticals (ARIA) is currently down in early trading. Shares imploded yesterday, dropping 66%. The trouble? The company had serious side effects with a leukemia drug that's been in testing. Also, the company got a downgrade to neutral at Citi. Shares are now down 74% in the past month.
Safeway (SWY) reports its earnings after the closing bell. Consensus is for earnings of 16-cents, the same as a year ago, though on a 15% in revenues to $8.5-billion. The chain has been losing ground to upscale competitors like Whole Foods Market, so it is currently trying to introduce more natural and organic items. Optimism is certainly reflected in the stock with shares up 68% year-to-date and 89% over the past year.