Harbinger Corp. Dn 14% On Speculation Co. To Miss 2Q Views
By Maria V. Georgianis
NEW YORK (Dow Jones)--Harbinger Corp. (HRBC) shares fell 14% Tuesday on speculation the company may miss second-quarter earnings estimates.
The electronic commerce software and services company is expected to earn 12 cents a share in its June quarter, according to First Call Corp. In the year-ago period, Harbinger earned 11 cents a share.
"I heard through the grapevine that Harbinger might be light on the quarter," said Friedman Billings Ramsey & Co. analyst Neeraj Vohra. The analyst said he wasn't able to independently confirm the speculation, which was passed along to him by clients.
A trading source said he heard the same speculation.
The company didn't immediately return calls.
Harbinger recently was down 2 15/16, or 14.1%, to 17 15/16, on Nasdaq volume of 1.6 million, compared with average daily volume of 439,600.
-Maria V. Georgianis; 201-938-5244
"Dow Jones News Service"
"Copyright(c) 1998, Dow Jones & Company, Inc." |
