Why TransUnion Stock Sold Off 20% on Tuesday
TransUnion (NYSE: TRU) is one of the three main credit bureaus that prepare the credit scores that determine whether you will -- or won't -- get that new credit card you applied for. TransUnion is having trouble getting "credit" from its own shareholders this morning, however. Its shares are being sold off after the company missed analyst predictions for its third-quarter sales and earnings.
Heading into the quarter, Wall Street analysts had forecast TransUnion would earn $0.94 per share (adjusted for one-time items) on sales of $982 million. In fact, TransUnion says its adjusted earnings were only $0.91 per share, and sales were $969 million.
As of 10 a.m. ET, TransUnion stock is down 19.7%.
Source Fool.com
