Cogo Group (COGO -26%) tanks after its Q2 beats on revenue, but comes up far short on its...

|By:, SA News Editor

Cogo Group (COGO -26%) tanks after its Q2 beats on revenue, but comes up far short on its bottom-line EPS number due to aggressive marketing expenses. The company also reduces guidance for Q3, now saying it expects non-GAAP EPS of $0.15 - $0.16, below the consensus estimate of $0.24. Separately, Needham downgrades the stock, calling it a "value trap."