Comedy brand National Lampoon reported fiscal fourth-quarter revenue that soared nearly twentyfold to $3.5 million and a net profit of $232,000, up from a year-ago loss of $1.3 million. During the quarter, the company delivered its first in-house feature film, "National Lampoon's Bag Boy," and completed production of "National Lampoon's Ratko: The Dictator's Son."
Another Dish low
Shares of Dish Network fell another 13% on Tuesday after dropping 15% the day before on an earnings shortfall and fallings subscribers. On Tuesday, Morgan Stanley cut its rating on Dish from "overweight" to "equal-weight" in part because of growing churn rate and the need to invest in technology upgrades. Shares fell $1.76 to $11.48, marking a 52-week low for a second day.
Shares of Google continued to decline Tuesday, at one point hitting a multiyear low, after a Goldman Sachs analyst trimmed his growth forecast and target price. Google's shares already took a hit Monday after a Barclays Capital analyst lowered his earnings estimates, saying the economy might be catching up with the search leader. Shares closed 2.3% lower Tuesday to $311.46.
Shares of Clear Channel Outdoor soared 29% on Tuesday to $4.61 after a sharp sell-off the day before prompted by weaker-than-expected third-quarter results. On Monday, Clear Channel Outdoor reported that profit dropped 83% on an impairment charge and a decline in U.S. ad spending.