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Reuters reported Blue Nile (NASDAQ:NILE) fell as much as 20 percent on Thursday after reporting lower than expected quarterly results.

Reuters reported Blue Nile (NASDAQ:NILE) fell as much as 20 percent on Thursday after reporting lower than expected quarterly results.

As quoted in the market news:

Benchmark also reduced its price target on Blue Nile to $28 from $30.

On Wednesday, Blue Nile forecast lower-than-expected earnings for its first quarter and fiscal 2012, after results missed estimates due to weak demand and higher costs.

Click here to read the full Reuters report.

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