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.
Latest for Insiders
- Missed the Internet of Things event? Watch it on demand
- Internet of Things is already helping save lives - including mine
- Red Hat's leaders, a chance to have impact, fun lure new CFO from Valley
- Duke survey: Jobs go unfilled because execs can't find qualified workers
- Beef up those sigs: New Research Triangle Software app adds photo, logo to texts
- Channel marketing, B2B sales and the rise of RTP's Zift Solutions
- Who's best presidential contender for business? Trump, say CFOs in Duke survey
- SAS to add 80 acres worth $11.7M to Cary campus in 'exchange' with NC State
- Full speed ahead at Medfusion despite it's David-vs-Goliath fight with Allscripts
- Exclusive: Why Silicon Valley's IXL is bringing ed tech jobs to Raleigh