FTD dives after warning it won't meet financial covenant terms

|About: FTD Companies, Inc. (FTD)|By:, SA News Editor

FTD Companies (FTD -35.1%) craters after the company warns that it won't be able to comply with certain financial covenants in its credit agreement.

The company says it's in discussion with lenders and large shareholder Liberty Interactive regarding credit agreement modifications and other financing transactions.

FTD also issued preliminary 2017 results and updated 2018 guidance, including the expectation for Q1 revenue to fall short of prior expectations by $20M.

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