Sykes Enterprises, Incorporated fell way down in pre-market trading afting posting weak Q2 profits. At 8:35 AM EST the company is down 31.37%, from $15.30 to $10.50, and has already traded 58,700 shares. This is significant for pre-market trading as Sykes’ average volume is just 401,211. This comes during a 52-week trading range of $13.48 – $26.91.
For Q2, the business process outsourcing company announced earnings of $0.14 per share. This is compared with estimates of $0.30. Sykes now predicts 2010 adjusted earnings of $0.81 to $0.83 a share. This is a major drop from earlier predictions of $1.33 a share to $1.50.
-Michael B. Sauter