Servicesource International Inc(NASDAQ: SREV) shares plunged 34.39% to $5.39 in the early hour after the company reported third-quarter net loss of $3.6 million or $0.05 per share, versus $2.8 million or $0.04 per share in the same quarter last year. Adjusted net income for the third quarter rose to $1.9 million or $0.02 per share from $1.1 million or $0.01 per share in the prior year quarter. Revenue grew 23% to $59.1 million, up 18% from $50.1 million in the year-ago period. Analysts expected the company to report a loss of $0.01 per share on revenues of $58.84 million for the quarter.
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Zillow Inc(NASDAQ: Z) shares declined 18.91% to $27.89 after the company announced that it has entered into a definitive agreement to acquire Mortech Inc. for approximately $12 million in cash and 150,000 shares of restricted stock. The transaction is expected to close in the fourth quarter of 2012.
Additionally, the company reported third quarter net income of $0.07 per share, as compared to the loss of $0.02 per share last year. The consensus estimate was for EPS of $0.07.
Moreover, Zillow‘s stock had its “buy” rating reaffirmed by research analysts at Goldman Sachs in a report released today.
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Express Scripts Holding Company(NASDAQ: ESRX) stock plunged 15.13% to $53.34 after the company said analyst forecasts for its 2013 results were too aggressive, casting doubt on how well the company is integrating its $29 billion purchase of Medco Health Solutions Inc.
The company reported third quarter net income of $391.4 million from $324.7 million the year before. Third-quarter revenue increased to $27 billion from $11.57 billion. Adjusted third-quarter earnings were $1.02 per share, as compared with 79 cents a year ago. Analysts on average were expecting 99 cents a share.
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Fossil, Inc.(NASDAQ: FOSL) stock fell 10.98% to $83.61 after the company reported a third quarter net income of $76.8 million or $1.26 per share from $69.6 million or $1.09 per share in the same quarter last year. Adjusted profit for the quarter totaled $1.29 per share. Analysts expected the company to report earnings of $1.16 per share for the quarter. Quarterly revenues rose to $684.2 million from $642.9 million in the prior year. Analysts expected to see revenues of $713.10 million.
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VIVUS, Inc.(NASDAQ: VVUS) shares dropped 16.25% to $12.55 in the early hour after the company reported third quarter net loss of $40.40 million from $8.63 million in the same quarter last year. Loss per share was $0.40 compared to a loss of $0.10 per share prior year.
The company also said the increase in net loss is primarily attributable to increased selling, general and administrative expenses related to pre-commercialization and commercialization activities for Qsymia. In addition, research and development expenses increased due to the start-up costs associated with the post-approval studies for Qsymia and STENDRA.
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