Callaway (ELY) off premarket lows but still down sharply after pre-announcing Q2 sales and...

|About: Callaway Golf Company (ELY)|By:, SA News Editor

Callaway (ELY) off premarket lows but still down sharply after pre-announcing Q2 sales and earnings well below consensus late yesterday. "Management was vague in its explanation for the miss, noting increased economic and political instability in Asia and Europe, as well as sluggish consumer spending in the U.S.," Wedbush says, and drops its price target to $9 from $12. ELY -7.3% to $7.04.