NII Holdings, Inc (NASDAQ:NIHD) plunged 24% after the corporation lower its profit and sales estimates, mentioning mounting rivalry and network spending.
Shares of NII Holdings, the wireless carrier that operates the Nextel brand in Latin America, moved down to $6.11 in New York and marked the biggest intraday drop since the stock began trading in 2002. The corporation has lost 71% of its value current year.
The Reston, Virginia-based NII Holdings reported in a statement on Tuesday that operating income before depreciation and amortization would be almost $1 billion current year, evaluated against prior forecasts of $1.4 billion. NII Holdings cut $1 billion from its 2012 sales estimates; mention it was presently anticipating $6.1 billion in operating revenue.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Telecom Argentina S.A. (ADR) (NYSE:TEO) increased +1.72% to settle at $11.81, Telephone & Data Systems, Inc. (NYSE:TDS) moved up +0.79% to end at $22.89 while Rogers Communications Inc. (USA) (NYSE:RCI) jumped +1.62% to finish on Tuesday at $40.26.
NII Holdings, Inc. (NASDAQ:NIHD) on Aug 07, 2012 decreased -24.38% to the closing price of $6.11. The overall volume in the last trading session was 24.60 million shares. Its fifty two week range was $5.65-$39.49. The total market capitalization remained $1.05 billion.
NIHD is behind its 52 week low with -6.86% and lagging behind from its 52 week high price with -84.53%. NIHD last month stock price volatility remained 7.64%. In its share capital NIHD has 171.75 million outstanding shares among them 168.84 million shares have been floated in market exchange. NIHD stock institutional ownership remained 97.90% while insider ownership included 1.00%.
The stock price of NIHD is moving down from its 20 days moving average with -21.50% and remote negatively from 50 days moving average with -36.51%. NIHD current year earnings per share experienced a downfall of -42.09% while its current quarter performance remained -52.04%. Company’s beta coefficient included 1.71. Beta factors measures the amount of market risk associated with market trade.
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