MidnightTrader Earnings Play: Rackable Systems
Rackable Systems
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RACK |
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PowerRating) is expected to report Q3 results after the bell tonight, and analysts polled by Thomson Reuters are expecting a loss of $0.07 per share on revenue of $71 million.
The stock favors a widening pattern between its after-hours price move versus the next day session. It has widened its move in eight of the last nine quarters of earnings reports. Previously, it had narrowed twice in the sessions we tracked.
Here’s a look at the stock’s recent performance:
On Aug. 4, 2008, RACK declined 14.3% in evening trade after issuing disappointing guidance. The stock turned deeper south the following day, losing 16.1% by the close on Aug. 5.
On April 24, 2008, RACK declined 1% in evening trade after missing revenue expectations. The stock turned deeper south in the April 25 regular session, losing 2.8%.
On Feb. 6, 2008, RACK shed 3% in night trade after beating Q4 estimates but also setting a 2008 revenue guidance range below analyst targets. RACK clawed out of the red the following day, ending Feb. 7 with a modest 0.7% rise.
On Oct. 25, 2007, RACK edged up 0.6% during evening trading as EPS topped the Street’s view and sales missed. The gain improved to 4.8% the next day.
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