Seeking Alpha

R.R. Donnelley (RRD -2.2%) owns up to mistakenly releasing Google's earnings before it was even...

R.R. Donnelley (RRD -2.2%) owns up to mistakenly releasing Google's earnings before it was even lunchtime in California, saying a full investigation over the issue is now in full swing. The type of service the company provides to Google is an extremely minor portion of its overall business, leading some traders to call the +$60M that's been shaved off the stock's market cap a bit of an overreaction.
Comments (4)
  • wigit5
    , contributor
    Comments (3968) | Send Message
     
    overreaction until it's other clients start looking elsewhere....
    18 Oct 2012, 02:54 PM Reply Like
  • chopchop0
    , contributor
    Comments (3138) | Send Message
     
    yup. talk about a PR disaster.
    18 Oct 2012, 02:58 PM Reply Like
  • wmateri
    , contributor
    Comments (518) | Send Message
     
    So the earnings were mistakenly released prematurely but note that Google is calling them "a draft" not "incorrect". It will hit the fan at an appropriate later date.
    18 Oct 2012, 02:59 PM Reply Like
  • Daniel Sermersheim
    , contributor
    Comments (43) | Send Message
     
    Its all about the reputation. In financial reporting, security is 100% important. If companies see this snafu as a concern for relying on RRD for their filings, this would be a big hit to RRD. Remember there are only a few growth areas left in RRD and financial reporting has been one of them.

     

    Although this slip up may not sink the RRD ship or even the business segment, its one more reason to be weary of going long in RRD.
    18 Oct 2012, 08:08 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|