Dow, S&P 500 Eke Out Gain for Week
Elsewhere in corporate news, Lexmark (LXK) was a big mover to the downside after the company lowered its second-quarter outlook on Thursday, citing a "weaker than expected demand environment, particularly in Europe, and a larger than expected impact from unfavorable changes in currency exchange rates."
The Lexington, Ky.-based printer maker now sees earnings excluding items of 87 to 89 cents a share for the June-ended period, below a previous guidance for a profit of 95 cents to $1.05 a share. The company expects revenue to decline 12% in the quarter from year-ago levels vs. a prior forecast for a 7-to-9% decline on the top line. The stock was down nearly 16%.
Your one-stop shop for 2012 stock recommendations and market predictions.
-- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts