Coinstar Falls on DVD Price Increase, Profit Forecast
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Coinstar Inc., owner of the Redbox movie-rental kiosks, fell after saying it will raise DVD prices to reflect rising debit card fees and issuing a forecast that fell short of analysts’ estimates.
Fourth-quarter profit from continuing operations will be 57 cents to 67 cents a share, Bellevue, Washington-based Coinstar said yesterday in a statement. That is below the 78-cent average of 14 analysts estimates compiled by Bloomberg.