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Bear of the Day

FTI Consulting's (FCN) third quarter 2010 earnings were below the Zacks Consensus Estimate. The company's corporate/restructuring segment remains a drag on its growth due to softer trend in restructuring activities and a slowdown in new cases.

The company is also experiencing a tepid pace of recovery in the Merger & Acquisition markets. Overall, the near-term visibility remains unclear, as demand environment for practices remains uncertain given the current market volatility and clients cautious aggregate spending.

Going forward, we remain skeptical about the growth prospects of the company. Hence, we maintain an Underperform rating on the stock.

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