This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks in Motion: Maytag

Updated from 11:37 a.m. EST

Shares of Maytag (MYG) were among the NYSE's losers Friday, falling 10.5% after the appliance maker posted fourth-quarter earnings and sales that were below estimates and cut 2005 earnings guidance.

Excluding items, the company earned 8 cents a share on sales of $1.16 billion. Analysts polled by Thomson First Call were expecting earnings of 17 cents a share on sales of $1.19 billion. Lower Hoover floor care sales, lower sales of vending equipment in commercial products, and higher steel and energy-related costs hurt the company's recent quarter. Looking ahead, Maytag now expects 2005 earnings of $1.10 to $1.30 a share, below previous guidance of $1.50 to $1.60 a share. Both estimates include 5 cents in restructuring charges.

The dour outlook comes less than two weeks after Maytag announced the departure of two high-level executives, William Beer and Thomas Briatico. Both men had played pivotal roles in Maytag's "One Company" restructuring initiative. The restructuring combined systems, facilities and personnel from Maytag Appliances, Hoover, and Maytag's corporate office all in an effort "to form a leaner, more efficient organizational structure," Maytag said. Shares traded down $1.79 to $15.26.

Escalade (ESCA - Get Report) fell 7.9% after the company warned that 2004 earnings would fall significantly below year-ago results. The maker and marketer of sporting goods said it expects 2004 earnings of $7.8 million, or 60 cents a share. A year ago, the company earned $14.85 million, or $2.29 a share. The shortfall is due to "unexpected excess inventory adjustments; adjustments to the restructuring costs recorded in the third quarter; and legal and other costs associated with the company's European operations," it said. Escalade expects to post full results on Feb. 11. Shares traded down $1.20 to $13.95.

Shares of Olin (OLN - Get Report) rose 4.6% after the chemical company posted fourth-quarter earnings above expectations. The company earned $22.8 million, or 32 cents a share, on sales of $487.3 million. Analysts were expecting earnings of 25 cents a share on sales of $487.5 million. An improved pricing environment, especially for the company's chlorine and caustic soda, contributed to the solid fourth-quarter results. Looking ahead, Olin expects first-quarter earnings of 40 cents a share, as earnings in Olin's chlor alkali business continue to improve. Shares traded up 97 cents to $21.99.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
STEI $0.00 0.00%
ESCA $16.50 0.00%
OLN $17.49 0.00%
AAPL $111.60 0.00%
FB $94.26 0.00%


Chart of I:DJI
DOW 17,131.86 +47.37 0.28%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,838.6430 +8.1730 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs