It seems the RNWK is currently a dead cat, free falling. At 5.08 now from 6.50 last week. Question is, where will it bounce and when? Has support at 5.01 and again at 4.80. Past six months, has twice dropped to the 4.75-5.00 range, only to rebound within a few weeks back to over 7.00.
This is the Jan. 30 article from Yahoo News that explains the decline.
"Late Thursday, RealNetworks said it lost $5.3 million, or 3 cents a share, in the fourth quarter. This compares with a loss of $2.45 million, or 2 cents per share, a year ago. Excluding certain items, such as $1.6 million in costs related to an antitrust suit against Microsoft (MSFT: news, chart, profile), RealNetworks lost $3.8 million, or 2 cents per share. Analysts expected RealNetworks to lose 3 cents per share.
But quarterly sales fell below expectations as they rose 17 percent to $54.1 million from $46 million. Analysts expected sales to reach $55 million.
RealNetworks had warned Dec. 18 that it expected to incur litigation costs in the quarter. RealNetworks, the dominant provider of media players for the Internet, filed an antitrust suit against Microsoft, alleging that the software giant has sought to make it harder for consumers to use competing technologies. See full story.
RealNetworks, based in Seattle, charges that Redmond-headquartered Microsoft is using monopoly power to "restrict competition, limit consumer choice and attempt to monopolize the growing field of digital media."
[This message has been edited by kcbudman (edited February 05, 2004).]
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