Earnings, Revenue Miss Consensus
Quicksilver reported a second-quarter loss of $0.12 a share, while analysts had expected profit of $0.04. Sales of $459 million also trailed the $505 million consensus estimate. ZQK drops 13 percent before the bell on my tradeMONSTER platform.
REIT Conversion Under Scrutiny
Iron Mountain and Equinix both wanted to lower their taxes by converting into real-estate investment trusts. But now the Internal Revenue Service is taking a second look and studying further what kinds of assets can be construed as real estate. That has IRM down 13 percent in early trading and EQIX down 14 percent.
TiVo Lower After Settling Patent Dispute
TiVo settled a patent dispute with Motorola, Cisco Systems and Time Warner Cable. The digital-media company will receive an upfront payment of $490 million and use some of the money to buy back shares. But traders don't like the news, and they're sending TIVO lower by 20 percent in early trading.
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