Why Logitech Stock Was Soaring on Tuesday
Shares of Logitech International (NASDAQ: LOGI) were up 12% as of 12:13 p.m. ET on Tuesday after the company reported earnings results for the fiscal second quarter ending Sept. 30. Sales and earnings were down again, continuing the weak trends from earlier in the year.
However, with the stock having fallen 45% year to date through Friday's close, investors are clearly focusing on the value underneath the shares instead of weak sales trends.
The leading brand of gaming peripherals continued to suffer through a challenging economic backdrop. Revenue decreased by 12% year over year, with earnings per share down 38%. The results look stronger than the broader PC market, where shipments fell 15% in the last quarter.
Source Fool.com
