PowerSecure shares plunge 62% despite CEO's mea culpa
Research Triangle Park, N.C. — Wall Street is pummeling Wake Forest-based PowerSecure after a disappointing earnings call and a cut in financial projections. Shares plunged 60 percent after the company went from a 4-cent-per-share profit a year ago to a 17-cent-per-share loss in the first quarter even though revenues jumped 17 percent. Outspoken CEO Sidney Hinton went out of his to repeatedly apologize for the energy company's performance. He asked for patience and trusts from customers as well as investors. Five analysts firms downgraded the stock, however, and investors are bailing....
WRAL TechWire Publisher and Editor Rick Smith dishes out tidbits from the local technology sector. Read more articles…
Please Log In to add a comment.
Best of TechWire Insider
- HP takes lead in sever market as IBM-Lenovo deal waits for approval
- Rock this way: Gamers love EDM, so Tilt Music Festival goes electronic
- Startup Factory's warning to Triangle: 'Bar keeps getting higher' for funding
- Two Toasters celebrates Inc. 5000 by paying it forward: A fundraiser for Girls Who Code
- Clinverse CEO: Pharma industry changes mean more business opportunities
- Prediction: Failure to pass crowdfunding, other economic development bills will hurt N.C.
- Inside Inc. 5000: Two Toasters' mobile apps deliver 579% growth
- Clinverse CEO: New venture funding to drive expansion, create new jobs
- Crowdfunding killed in NC; bill backer criticizes Senate strategy
- Exclusive: GroundFloor isn't moving to Atlanta due to NC crowdfunding impasse