Notable Stock Earnings Surprises (The New York Times, Jefferies Group )

The New York Times Company (NYSE:NYT) fell 3.15% to $7.72 after the diversified media company forecasted higher than estimated decline in its revenue for its third-quarter.

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The company expects to post an operating loss in the range of 5 -7 cents a share in the third quarter. On an adjusted basis, the newspaper publisher expects a third-quarter profit of 3 cents to 5 cents a share. That compares to analysts’ estimates of 4 cents a share.

The company also projects its total revenues to fall about 2 – 3% in the current quarter, fell below analysts estimated decline of 1% to $564 million.

imes Co. expects print-ad revenue to be down about 5% this quarter from last year and rising about 14% for digital ads. The company in July projected print-ad improvement from the second quarter's 6% drop and growth in the mid- to high-teens on a percentage basis for digital. Second-quarter growth was 21%.

The company expects fourth-quarter operating costs to be flat, even with higher newsprint prices this year.

Jefferies Group, Inc. (NYSE:JEF) tumbles 5% to $23.04 after the global securities and investment banking firm reported a worst than expects third quarter revenue and profit.

The company said that during the quarter its third-quarter profit slid to $46.26 million, or 23 cents a share, compared to $86.29 million, or 42  a share, in the year-ago period. 

Revenue plunged to $520.1 million, from $700.4 million.

Analysts were expecting the company to report 23 cents a share and revenue of $547.3 million

“Trading volumes across the board were painfully slow during the months of June, July and August,” said CEO Richard Handler — quite a contrast from Q2’s results, when Handler said the firm was “pleased with solid quarterly results.”

Jefferies Group, Inc. and its subsidiaries operate as global securities and investment banking firm serving companies and their investors.

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