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Short Take: IDT falls on earnings warning

IDT fell as much as 26 percent after the company warned that earnings for the second quarter will fall under analysts' expectations as equipment deliveries for its international phone network have been delayed. The Hackensack, New Jersey-based company said earnings for the quarter will fall short of views by around 10 cents per share. Analysts surveyed by First Call had expected the company to earn 16 cents per share for the second quarter.

IDT fell as much as 26 percent after the company warned that earnings for the second quarter will fall under analysts' expectations as equipment deliveries for its international phone network have been delayed. The Hackensack, New Jersey-based company said earnings for the quarter will fall short of views by around 10 cents per share. Analysts surveyed by First Call had expected the company to earn 16 cents per share for the second quarter.