Quiksilver (ZQK) NewsBite - Quiksilver EPS Beats Estimates

Posted on Friday, June 06, 2008 10:45 AM

Quiksilver Inc. (ZQK) opened at 9.77. So far today, the stock has hit a low of 9.11 and a high of 9.85. ZQK is now trading at 9.50, up 0.14 (1.43%). The stock hit its 52 week high of 15.51 in August and set its 52 week low of 5.69 in January. ZQK has been generally down for the past year. Quiksilver reported yesterday evening a wider second quarter loss of $206.2 million due to a hefty loss from discontinued operations. The company posted adjusted earnings of 30 cents per share on revenue of $596.3 million, while analysts expected a profit of a penny per share on revenue of $605.4 million. Quiksilver also warned it expects profit from continuing operations to fall slightly in fiscal 2008. Technical indicators for the stock are bearish and steady while S&P gives ZQK a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $7.50 range. ZQK stock could fall up to 21.1% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]