Accounting Error Slams FUQI International

FUQI International ( FUQI - news - people ) shares plunged Wednesday after the association pronounced accounting errors led to farfetched the distinction for the initial 9 months of 2009. The errors have forced the association to check the annual inform for 2009 and investors were not happy with the news. Shares of FUQI International fell some-more than 35% following the news.emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/17/losers-fuqi-blockbuster-markets-equities-sterling-marketnewsvideo.html?partner=yahoobuzzAfter celebration of the mass by Blockbuster ( BBI - news - people )s 10-K filing this morning, investors were attack the sell button. The filing contained a "going concern" matter that has investors wondering about the long-term viability of the company. Furthermore, the filing contained inform about the companys probable plans to oath easy Canadian resources opposite the accounts on credit balances due to the vital movie studios. Shares of Blockbuster were off some-more than 32% percent.Sterling Financial ( SLFI - news - people ) reported it is in talks with a series of in isolation equity investors about raising new capital. The association plans to weigh all of the stategic alternatives in sequence to recapitalize and grow the business. Investors are endangered that Sterling might intermix stream shareholders in the routine and shares fell as a result, off some-more than 17%.Shares of Frontier Financial ( FTBK - news - people ) lost roughly a third of their worth Wednesday sunrise after the association revised the fourth-quarter results. An accounting blunder caused the association to inform a net loss of $7.19 per share, but inner checks have found the tangible loss in the fourth entertain was $14.89 per share. Currently, shares of Frontier Financial are off some-more than 33%.Market News Video produces and distributes online videos about bonds and investing.
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