Market Slips after Making a Mixed Start
The U.S. equity market has slipped in mid-day trading, with all three major indexes currently in red. The Dow Jones is currently down 0.23% to 11,162.91, the S&P 500 is currently down 0.35% to 1,189.54 and the Nasdaq is currently down 0.46% to 2,521.88.
Qwest Communications International Inc. (NYSE: Q) today reported its third-quarter financial results earlier today. The Denver Colorado-based company reported a quarterly loss for the first time since 2005, primarily due to a charge linked to the company’s increasing stock price. The company reported a loss of $90 million, or $0.05 per share for the third quarter of 2010, compared with a profit of $136 million, or $0.08 per share reported in the third quarter of 2009. Excluding one-time items, the company reported a profit of $0.11 per share, beating analysts’ estimate of a profit of $0.10 per share. Its revenue declined 4% to $2.94 billion. Shares of Qwest Communication International Inc. are currently up 0.67% to $6.72, after touching a 52-week high of $6.79.
Shares of OpenTable Inc. (NASDAQ: OPEN) are soaring after the company reported its third-quarter financial results. The San Francisco, California-based company reported its third-quarter financial results after market close on Tuesday. The company reported consolidated net revenue of $24.5 million for the third quarter of 2010, up 44% over the third quarter of 2009. The company reported consolidated net income of $3.8 million, or $0.16 per diluted share. Shares of OpenTable Inc. are currently up 12.59% to $69.13, after touching a 52-week high of $72.20.
