NOVL took a thumping on Thursday, trading down over 14% to close the regular session at $6.60 after the company reported their Q2 earnings and issued guidance for Q3. Volume was extremely strong on the session, with over 37 million shares of the stock changing hands, compared to a normal daily average of just over 6.6 million shares traded. For Q2, the company reported inline estimates of 3 cents per share of earnings on revenues of $278.3 million dollars. However, the stock traded down after the company issued its Q3 guidance, which it says will be 3 cents per share of earnings on revenues of between $239 - $247 million dollars. This is below analyst estimates of 4 cents per share of earnings on revenues of $282.9 million dollars. The stock is currently within 80 cents of its 52 week low of $5.80.
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