Company/EPS Estimate
- (CKR)/.13
Alpharma Inc. (ALO): The drugmaker said profit excluding some items will be as much as 50 cents a share in 2008. The average estimate from analysts in a Bloomberg survey was 74 cents. Alpharma shares lost 51 cents, or 2.5 percent, to $20.07 yesterday.
Belden Inc. (BDC): North America's second-largest maker of electronic cable cut its annual forecast to $3.45 to $3.75 a share, excluding certain items. The average estimate of analysts is $3.77 a share. Belden also is offering buyouts of salaried employees 50 years of age or older who have been with the company for 10 years. The shares fell $1.17 to $50.63 yesterday.
Boeing Co. (BA) fell $1.70, or 1.9 percent, to $87 in trading before the official open of U.S. exchanges. The world's second-biggest commercial-plane maker was downgraded to ``equal weight'' from ``overweight'' at Morgan Stanley. ``The 787 risks are likely to linger over the stock and not be retired as we had earlier believed,'' analysts including Heidi Wood wrote in a report to clients.
Cooper Cos. (COO) fell $5.04, or 12 percent, to $37.50. The maker of optical lenses, surgical instruments and diagnostic products said that, excluding some items, it earned 54 cents a share in the fourth quarter. Analysts, on average, had estimated profit of 68 cents.
Cummins Inc. (CMI) The maker of heavy-duty truck engines said its board declared a 2-for-1 split of common stock, the second split this year, and authorized the company to repurchase another $500 million in shares. Cummins shares dropped $5.54, or 4.5 percent, to $118.19 yesterday.
Maguire Properties Inc. (MPG): The Los Angeles-based real estate investment trust formed a special committee to explore a sale. Shares declined $1.68, or 6.2 percent, to $25.26 yesterday.
Watch HAE, NVO, BNV, RMD, MA for long breakouts.
Watch MET, AXE, JLL, ESS, STU for short breakdowns.
-MM
