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Sodastream International Continues Slide After Guidance

SodastreamShares of Sodastream International Ltd (NASDAQ: SODA) were halted after the company reported negative guidance ahead of third quarter results to be reported on October 29. 2014. The slide continued in mid morning trading after trading resumed with shares plumenting over 20% to as low as $21.81 on heavy volume as investors hurried to exit the stock.

The company has reported revenue of $125 million and operating income to be roughly $8.5 million versus Capital IQ estimates of $153 million and $17 million, respectively.

Sodastream CEO Daniel Birnbaum stated,”We are very disappointed in our recent performance.”

Sodastream International Ltd (NASDAQ: SODA) closed yesterday at $27.57 and were down before being halted in pre-makrtet activity nearly 18% to $22.62.

The company’s U.S. sales have struggled in recent quarters. SodaStream’s shares  have fallen about 44% so far this year.

In a bid to attract more customers, SodaStream has started a strategic shift of its brand toward health and wellness, mainly in the U.S., where Mr. Birnbaum said the message “will resonate more strongly” with consumers.

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