NCR Corp. Falls Short on Street Expectations and FaceBook Sues DLA Piper and other Firms
October 21 2014 - 12:00AM
InvestorsHub NewsWire
Lowering full-year revenue
outlook drags NCR Corp. (NYSE:NCR)
shares to a new 52-week low on Monday. The stock dropped 21.19% on
over 21 million shares traded.
NCR Corp. reported preliminary 3Q earning earnings and revenue
that fell below expectations. The ATM and self-service check out
machine maker reported earnings adjusted to exclude one-time items
of 67 cents per share for the quarter ended Sept. 30. This didn’t
meet the 70 cents per share that financial analysts expected, on
average, according to FactSet.
The company has also lowered its full-year revenue outlook
remarking on a challenging retail market and difficult global
economic conditions.
Shares closed at $23.54,
the stock’s lowest since November
2012.
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A vengeful lawsuit suing
several law firms gives Facebook, Inc.
(NASDAQ:FB)
a modest pop on Monday. The stock closed up 1.32% on over 34
million shares traded.
Facebook’s Mark Zuckerberg
is seeking revenge with a lawsuit filed on Monday against DLA Piper
and other law firms and lawyers that conspired to file and
prosecute a fraudulent lawsuit against the company. The several law
firms represented Paul Ceglia, who contended that he owned half of
the social network and was entitled to billions of dollars from the
company and Zuckerberg.
DLA Piper is one of the world's largest business law firms.
In order to win the lawsuit, under New York law, Facebook must show
that Ceglia’s lawsuit was without merit and that his lawyers
possessed enough information to know that before filing suit.
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