Nuance (NASDAQ:NUAN) Shatters Fiscal Year 2013 Guidance; Stock Tumbles to 6 Year Low Level

Nuance Communications Inc (NASDAQ:NUAN) stock tumbled to record low in over 6 years after the corporation shattered its full-year sales and earnings guidance as new technology reduced use of older transcription services.

Shares of speech-recognition software maker retreated 19% to $20 at the close in New York, for the major drop since August 2006. Company’s stock has lost 10% current year, evaluated against a 6.7% boost for the Russell 1,000 Index.

The Burlington, Massachusetts-based Nuance Communications lower its fiscal year 2013 sales guidance to $2.15 billion to $2.2 billion on Thursday, low from a November forecast of $2.17 billion to $2.22 billion.

The company also cut its adjusted earnings estimates to $1.76 to $1.87 per share, from $1.84 to $1.94.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Dell Inc. (NASDAQ:DELL) rose +0.74% to settle at $13.63, Cisco Systems, Inc. (NASDAQ:CSCO) moved up +0.31% to end at $21.16 while Fab Universal Corp (NYSE:FU) jumped +0.30% to finish at $3.29 on Friday.

Nuance Communications Inc. (NASDAQ:NUAN) on Feb 08, 2013 decreased -18.53% to the closing price of $20.00. The overall volume in the last trading session was 33.92 million shares. Its fifty two weeks range was $19.33 – $31.15. The total market capitalization remained at $6.27 billion.

NUAN is ahead of its 52-week low with 3.47% and lagging behind from its 52-week high price with -35.79%. NUAN’s last month’s stock price volatility remained 2.31%. In its share capital NUAN has 313.58 million outstanding shares, among them 309.69 million shares have been floated in market exchange. NUAN’s stock’s institutional ownership remained 90.81% while insider ownership included 2.31%.

The stock price of NUAN is moving down from its 20 days moving average with -15.53% and remote negatively from 50 days moving average with -12.49%. NUAN’s current year’s earnings per share experienced an addition with 433.50% while its current quarter performance remained at -8.00%. Company’s beta coefficient included 1.51. Beta factors measure the amount of market risk associated with market trade.

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