THQ Lowers Guidance, Shares Fall 14% (THQI)

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Shares of Agoura Hills, California-based THQ Inc.
THQI
are trading down 14% at $5.51 per share during the Thursday morning trading session. The day's trading range for shares of THQ Inc has been between $5.31 and $5.75 per share. Analysts covering the company's stock give it a consensus price target of $5.41 per share. Volume of 4.3 million shares is already nearly 4 times the daily average volume of 1.1 million shares. THQ Inc. (
THQI
) announced on after the market closed on Wednesday that it beat consensus Wall Street expectations. THQ Inc announced 3rd quarter adjusted earnings of 37 cents per share, on revenue of $314.6 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 26 cents per share, on revenue of $315.84 million. However, the company lowered its 4th quarter guidance to a range of 5 cents to 15 cents per share, on revenue of $245 to $260 million, which is much lower than than the consensus analyst estimate of 34 cents EPS, on revenue of $301.73 million. THQ Inc is a developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Read more
from Benzinga's Company news.
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