Coinstar Plunges After Profit, Sales Miss Forecast
This article is for subscribers only.
Coinstar Inc., operator of Redbox DVD vending machines, fell the most since July 2003 after preliminary fourth-quarter sales and profit missed projections because of delayed access to Hollywood’s newest movies.
Coinstar tumbled $15.45, or 27 percent, to $41.50 at 4:29 p.m. New York time in Nasdaq Stock Market trading after doubling last year. The Bellevue, Washington-based company said yesterday in a statement it plans to report full results Feb. 3.