jj, LXK already warned so to speak
That's what accounted for the big gap down in July, if I remember correctly. The news from that time has already expired on most services, but here's something from Zack's dated 7/29 where they issued a sell recommendation:
"Lexmark International, Inc. (LXK) develops, manufactures and supplies printing solutions and products, including laser and inkjet printers and associated supplies for the office and home markets. Although the company reported second quarter advances in revenue and earnings per share, Lexmark's earnings estimates have declined over the past seven trading days as it forecasted third quarter earnings per share that were below Wall Street's expectations. The company said it continues to remain cautious due to softness in corporate and consumer spending, along with aggressive pricing competition. It expects earnings of 63 cents to 73 cents per share for the third quarter, while analysts were expecting about 80 cents. Over the past seven trading days, earnings estimates for this year and next have declined by about 17 cents and 19 cents respectively, or about -5% for each period. Lexmark remains one of the biggest presences in its industry, but times are difficult right now and investors should consider sitting on the sidelines a bit longer and watch for its earnings estimates to get back on track." |
