Wednesday, July 25, 2007
Transcend Services: Does Price Decline Portend Unpleasant Earnings Guidance?
Shares in Transcend Services (TRCR-$17.20) stumbled in trading on Monday and Tuesday, falling $7.43, or 31.4% in price, on more than 2.5 times average daily volume (three-month) of 170,158.
Asked to comment on the volatility in the stock trading, Lance Cornell, Chief Financial Officer of the Atlanta-based provider of transcription and editing services, said: “we are not aware of any particular rumors, leaks, or news—local or national—that would have been driving it, or any information on particular sellers that would have been causing it—the price decline—over the last few days…. I know that’s not much, but I hope that this helps.”
The Company will release second quarter earnings before the market opens on Thursday, July 26, 2007. Stockholders will know soon enough if anybody traded on material non-public information.