CIRC is trading 20.12% down at $0.52 after Circle8 reported an $86.4 million second-quarter net loss.
- Net loss widened from $10.7 million a year earlier, while loss per share increased to $0.98 from $0.20.
- Service revenue rose to $319.8 million; results included a $60.4 million one-time SPP litigation-settlement loss.
- The $35 million merger-note benefit will be recognized in the third quarter; the decline substantially exceeded recent daily moves despite modest weakness in major indexes.