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Gold Index
LDK Solar Disappoints With Guidance
Price level versus 4 pm ET: Stocks ended a choppy session trading with modest losses as investors failed to build on the prior week's gains. The major indices struggled to put together a sustainable advance for the entire session.
Six of the ten sectors posted a loss. Telecom (-3.9%) and financials (-2.5%) posted the largest declines. The energy sector (+1.4%) outperformed as crude oil prices surged 5.2% to $48.81 per barrel.
Futures are mostly flat in after hours trading. S&P 500 futures, at 926.00 are above fair value by two points, and Nasdaq 100 futures, at 1261.75 are two points below fair value.
| Company | Stock Move | Reason for Move |
| LDK Solar(LDK) |
12.70
-2.14 |
LDK Solar lowers fourth quarter and 2009 gudiance. LDK sees fourth quarter (Dec) revenue of $425-435 million versus the $540.53 million First Call consensus. This compares to its previously issued guidance for the fourth quarter of 2008 of revenue in the range of $555 to $565 million. For fiscal year 2009,LDK sees revenue of $2.3-2.5 bln versus the $2.6 billion consensus. |
| Mosiac(MOS) |
37.50
-0.17 |
MOS reports second quarter (Nov) earnings of $1.53 per share, excluding a $0.41 charge and a $1.03 gain, which is $0.10 better than the First Call consensus of $1.43. Revenues rose 36.9% year-over-year to $3.01 billion versus the $3 billion consensus. |
| Imation(IMN) |
14.00
-0.41 |
IMN issues downside guidance for fourth quarter (Dec), sees fourth quarter (Dec) revenue of $530-540 versus the $570.00 million First Call consensus. Driven by revenue levels and margin pressures, the Company said it will not meet its prior earnings outlook and could report a fourth quarter operating loss of up to $7 million before restructuring and other charges. |
| Cigna(CI) |
18.15
0.00 |
CI announces several actions in response to the economic downturn that will strengthen the company's competitive position, including the reduction in its global workforce by approximately 1,100 positions, around 4% of the company's employees, and the planned consolidation of certain real estate locations. |
Economic data will be in focus tomorrow with the release of the ISM services, factor orders and pending home sales reports all at 10:00 AM ET.
Meanwhile, the Fed will release the Dec. 16 FOMC meeting
minutes at 2:00 PM ET.
Only two companies report earnings before the open -- Acuity Brands (AYI) and
Neogen (NEOG).
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