NetApp’s Quarterly Revenue Disappoints

Posted in pre-market 
August 19th, 2010

NetApp Inc. (NASDAQ: NTAP) is down 3.13% this morning from $39.32 to $38.09 in pre-market trading.  At 8:35 AM EST the company had already traded 69,720 shares, in contrast with their average of 7,730,450.  This move comes during a 52-week range of $21.29 to $44.89.

NetApp’s pre-market woes are the result of disappointing quarterly revenue earnings which just managed to beat Wall Street estitmates.  For the second quarter the data storage equipment company expects to make $0.47 to $0.50 per share.  Analysts are predicting $0.47.

-Michael B. Sauter

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