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Tale of the Tape  

SPX Slashes 09' Profit View

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April 13, 2009 |Comments: 0
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SPW

Shares of SPX Corp. (SPW) 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.

Read the full analyst report on SPW

 

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Market Summary Feb 10, 2012 07:39 am ET
DJIA 12890.46  0.00 0.00%
NASD 2927.23  0.00 0.00%
S&P 500 1351.95  0.00 0.00%
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