HOME ZACKS RESEARCH FUNDS PORTFOLIO BROKER RESEARCH MARKETS SCREENING EDUCATION SERVICES

Zacks Equity Research
Zacks Rank can tell you which stocks to buy and sell. Zacks Equity Research tells you why. Click here to learn more.
Quote:
Login Free Membership
Search:

 
Tale of the Tape  

SPX Slashes 09' Profit View

April 13, 2009 | Comments: 0
Recommended this article (1)
SPW
Print    Share

Shares of SPX Corp. (SPW - Snapshot Report) plunged more than 17% after cutting its 2009 profit guidance.

It now expects profit between $4.40 and $4.80 per share, down from an earlier guidance of $5.40 to $5.80. Analysts had been expecting earnings of $5.11 per share.

The company said that sales could also fall about 16% this year.

For the first quarter, SPX sees earnings per share at the low end of its prior forecast of 75 cents to 85 cents, while analysts expect a profit of 76 cents.

For its fourth quarter, SPW reported a positive earnings surprise of 10.75%.

SPX is a Zacks #3 Rank ("Hold") company. It is moving on higher-than-normal volume of almost 1.7 million, compared to the average of around 922,000.


Email

Print

Share

RSS

Rate Pos

Rate Neg

Comment
Free Stock Analysis From Zacks
  Includes Zacks Long-Term Recommendation and Target Price
Read/Post Comments (0) | Recommended this article (1)
 Posting Comment...
There was a problem posting this this comment. Please try back later.
[CLICK TO CLOSE X]
Comments (Limit 1000 Characters - Used: 0)
Display Name: Email Address:  
 Loading Comments...
Be the first to comment on this article!
Best Stocks. Best Insight. Join Now...it's FREE!
Over 550,000 investors look forward to the timely insights in our email newsletter; Zacks Profit from the Pros. In each daily issue you will find:
  • Free  Four Zacks #1 Rank "Strong Buy" Stocks
  • Free  Timely Market Commentary
  • Free  Wealth Management Tips
  • Free  Profitable Strategy Screens
  • Free  Bull and Bear Stocks of the Day
Zacks FREE Registration

More Zacks Resources

Market Summary Feb 09, 2010 21:16 pm ET
DJIA 10058.64  150.25 1.52%
NASD 2150.87  24.82 1.17%
S&P 500 1070.52  13.78 1.30%