Stocks quoted in this article:
MarchFirst (MRCH – 4-3/4), a provider of Internet consulting services, announced this morning that it lost $2.86 per share in the third quarter. The firm was expected to earn 19 cents per share in the quarter. As a result of this drastically negative fundamental news, the company has received numerous downgrades for a variety of brokerage houses.
In response, the equity has plunged almost seven points, or just over 59 percent, lower on heavy volume in today's action. MRCH is now trading at all-time low levels, eclipsing its previous worst mark of 5-3/4 from its initial public offering in May 1996.
On the options front this afternoon, the far-out-of-the-money February 20 call is leading the way on volume of 835 contracts. On the put side, the November 5 put has seen 540 contracts cross the tape.