In this report: United Continental Holdings (NYSE:UAL), CPI Corp. (NYSE:CPY) and Allot Communications (NASDAQ:ALLT).
United Continental Holdings (NYSE:UAL) shares have dropped by more than 6 percent today after some analysts cut their fourth quarter expectations due to weaker than expected revenue. The move came the morning after the company reported that it expects a 8.5 to 9.5 percent rise in the consolidated passenger revenue per available seat mile for the fourth quarter but some analysts said that they were expecting higher number than that following the bankruptcy of AMR Corp. last month. Dahlman Rose cut its fourth quarter profit estimates for UAL to 25 cents per share from 50 cents per share while Ticonderoga Securities lowered its prediction to 15 cents per share fro 43 cents per share. United Continental currently trades at $19.03 per share.
CPI Corp. (NYSE:CPY) has dropped another 8.5 percent lower today after the company said that its loss narrowed to $7.25 million in the third quarter, down from a loss of $7.71 million during the same quarter last year. Revenue during the three months ending on November 12th dropped 11 percent to $95 million from $106.2 million last year. The company’s CEO Renato Cataldo stated “Third quarter and early holiday season sales underperformed our expectations due in large part to less effective marketing offers,” and that it will be “Aggressively retooling” its sales and marketing strategies to improve results going forward. CPI Corp. currently trades at $1.85 per share.
Allot Communications (NASDAQ:ALLT) is trading over 6.9 percent lower today after Bloomberg news reported that the company’s Internet-monitoring equipment was sold to Iran. The equipment was sold to Danish based technology distributor Randers who then repackaged the equipment and shipped it to Iran. The company has responded with a statement saying that “The company is investigating the claims contained in the Bloomberg article”. Allot Communications currently trades at $15.53 per share.
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