Xcel Brands: Falls as Q3 results disappoint

XCel Brands

14/11/2019 17:28

** Shares of media and consumer products company  XELB.O 
tumble 14.8% to $1.48; set for their worst day in nearly 11
months 
    ** XELB's Q3 results miss estimates hurt by lower revenue
from its licensing business  urn:newsml:reuters.com:*:nGNX5cjsxY
    ** Profit misses estimates for the second time in the past 
8 quarters
    ** D.A. Davidson says revenue was hurt by XELB's licensing
business transition to a wholesale model; assumes coverage with
"neutral" 
    ** Brokerage sets PT of $1.50, which represents ~14%
discount to XELB's Wednesday close
    ** XELB, among top three pct losers on Nasdaq
telecommunication index  .IXUT , has risen ~27% this year

 (Reporting by Ambhini Aishwarya in Bengaluru)
 ((Ambhini.Aishwarya@thomsonreuters.com; within U.S.+1 646 223
8780; outside U.S. +91 80 6749 0543;))