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Allegheny Plunges on Heavy Volume

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May 18, 2009 |Comments: 1
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AYE

Allegheny Energy Inc. (AYE) shares plunged 8% today amid abnormally high volume of 17.7 million, against the daily average of 2.7 million.

In the first quarter, the company’s earnings stood at 67 cents per share, missing estimates by 13%.

Five analysts out of 13 lowered expectations, sending the 2009 consensus forecast to $2.34 per share from a month-ago forecast of $2.46 cents per share.

Allegheny is a Zacks #5 Rank ("Strong Sell") stock.

Read the full analyst report on AYE

 
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