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Rubicon Project (RUBI) Stock Plunges on Disappointing Guidance

NEW YORK (TheStreet) -- Shares of Rubicon Project (RUBI) were diving 32.92% to $9.17 on heavy trading volume Wednesday morning after the company posted solid results for the 2016 second quarter but provided a weak outlook.

After yesterday's market close, the Los Angeles-based advertising tech company said it sees third quarter earnings per share between 7 cents and 9 cents on revenue of $64 million to $70 million.

Analysts are modeling earnings of 12 cents per share on revenue of $70.1 million for the current...