RadioShack Warning Sends Shares Plummeting
RadioShack Corp. said it expects its fourth-quarter results to be below analysts’ expectations, citing the underperformance of the company’s Sprint postpaid-wireless business and unanticipated changes in Sprint Nextel Corp.’s customer and credit models.
Shares were down almost 30 percent, at $7.24 in afternoon trading Tuesday after the consumer-electronics retailer said it expected earnings between 11 cents and 13 cents a share, while analysts polled by Thomson Reuters most recently predicted 37 cents a share.
