Shares of Jarden(JAH Quote) were among the NYSE's losers Thursday, hitting a 52-week low after the consumer-products maker warned that fourth-quarter earnings will be below Wall Street forecasts.
The company put adjusted earnings at 50 cents to 54 cents a share, with sales above $960 million. Analysts polled by Thomson First Call expected earnings of 66 cents a share on sales of $883.3 million. For all of 2005, the company sees adjusted earnings of $2.10 to $2.14 a share, below the $2.24 a share that analysts expected. Jarden said that fourth-quarter results were hampered by weaker-than-expected performance at its FoodSaver and Holmes businesses.
The company, meanwhile, projected earnings growth of at least 15% during 2006, and organic sales growth of 3% to 5%. Analysts forecast 2006 earnings of $2.52 a share. The stock, which earlier in the day tumbled 13% to a 52-week low of $26.50, recently rebounded somewhat to trade at $28.39, down $2.03, or 6.7%. ...
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