With earnings due after the close, investors in NetApp (Nasdaq:
NTAP) were shocked when the saw shares plunge mid-day after a
earnings and guidance leak.
At around 2:42PM Bloomberg ran headlines that EPS for the second
quarter was $0.52 on sales of $1.21 billion, which was slightly
better than the consensus of $0.49 and $1.19 billion. However,
third quarter EPS guidance was being reported at $0.48-$0.50,
versus the consensus of $0.51, and Q3 sales of $1.240 billion to
$1.290 billion, versus the consensus of $1.26 billion.
After selling off 6.6 percent on the headlines, shares were halted
for trading at 3:11:27 PM ET.
At 3:31PM ET, NetApp confirmed the earlier report by release the
official press release. The company didn't explain how the report
The leak of NetApp's numbers comes just a week after the same thing
happened to Disney (
), with earnings leaking just before the close.
Share are now set to re-open for trading at 4:15PM ET.