Stocks in Motion: Lexmark

Shares of Lexmark(LXK Quote) were among the NYSE's losers Tuesday, plunging 25% after the printer maker slashed its third-quarter earnings guidance in half and said fourth-quarter results also would be below forecasts.

The company now expects earnings of 40 cents to 50 cents a share, down from its prior forecast of 95 cents to $1.05 a share. Lexmark now expects third-quarter revenue to fall by 4% to 5%, worse than its previous guidance calling for low-single-digit growth. Analysts surveyed by Thomson First Call had been expecting earnings of $1.02 a share on sales of $1.3 billion, or sales growth of about 2%. Lexmark blamed the weak outlook on lower laser and inkjet supplies revenue.

Looking ahead, Lexmark said the issues that plagued its third quarter would hurt its fourth-quarter results as well, and predicted that fourth-quarter earnings and sales will be below analysts' average estimates. According to First Call, analysts project earnings of $1.17 a share on sales of $1.56 billion. Lexmark shares were trading down $15.29 to $45.65.

Clorox(CLX Quote) shares fell 1% after the company cut its fiscal second-quarter earnings forecast. The consumer products maker reduced its earnings forecast to 41 cents to 47 cents a share from its previous guidance of 50 cents to 57 cents a share. Analysts had been expecting earnings of 55 cents a share for the quarter ending Dec. 31. Clorox said second-quarter results would be hurt by rising energy costs and the impact of the recent hurricanes in the Gulf Coast region. Sales, meanwhile, are still expected to grow by 1% to 3%.

Clorox left its first-quarter earnings forecast intact, saying that it would earn 68 cents to 72 cents a share for the quarter ended Sept. 30 on better-than-expected sales growth of 5% to 6%. Analysts are expecting earnings of 68 cents a share on sales of $1.09 billion, or sales growth of 4%. Shares were trading down 62 cents to $53.96.