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Shares of National CineMedia (NCMI) sink premarket, down 24%, after the firm lowers its Q4 and...

Shares of National CineMedia (NCMI) sink premarket, down 24%, after the firm lowers its Q4 and FY11 outlook on lower advertising revenue. The company now sees full-year revenue of $425M-$430M, markedly lower than its previous guidance of $460M-$470M. Piper Jaffray piles on following the report, downgrading shares to Overweight and slashing its price target to $15 from $23.
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