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Synchronoss Technologies (SNCR) Sank To A New Low On Guidance News

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Synchronoss Technologies (SNCR: Quote) reported first quarter adjusted EPS of $0.26 after the bell Monday, up from $0.20 in the prior year period. The consensus estimate was for EPS of $0.25. Going ahead, the company lowered its outlook for revenue growth from AT&T, its biggest customer.

Synchronoss Technologies gapped open dramatically lower Tuesday and slipped further around the middle of the afternoon. The stock closed down by 8.12 at $20.22 on the highest volume of the year. Synchronoss sank beneath support and set a new low for the year.

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by RTT Staff Writer

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