Overstock.com Hits 2-Month Low On Quarterly Results

(RTTNews) - Overstock.com Inc. (OSTK | Quote | Chart | News | PowerRating) gapped open lower on Friday and has continued to fall on increased volume since then. The move follows quarterly results that failed to impress investors.

The stock is currently at $20.01 down $7.69 from Thursday's close.

The decline has taken the stock below recent support and to its lowest level in over two months.

The company posted a net loss for the quarter of $6.5 million, or $0.28 per share, compared to a loss of $13.8 million, or $0.58 per share, in the prior year quarter.

Quarterly revenues realized by the company rose 27% to $188.8 million from $148.9 million in the same quarter last year.

Analysts polled by First Call/Thomson Financial expected the company to incur a loss of $0.28 per share on revenues of $180.66 million for the quarter.

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