Small-cap stocks followed the broader market lower Tuesday, as several companies issued disappointing guidance.
Southeastern gas station operator Pantry(PTRY Quote) was losing 15% after slashing full-year guidance. The company, which also operates convenience stores, said it expects to report earnings per share of between $1.65 and $1.80, below its earlier guidance. Analysts polled by Thomson Financial expected earnings of $2.26 a share on revenue of $6.74 billion. Shares were trading down $6.85 to $39.82.
Lubricant maker WD-40(WDFC Quote) slipped 10% the company provided disappointing guidance Monday after the bell. WD-40 said it expects net income of $29.1 million to $30.2 million, or $1.70 to $1.75 per share. The company expects sales of $307 million to $313 million. Analysts polled by Thomson Financial expected earnings of $1.78 per share on sales of $313.6 million. Shares fell $3.72 to $33.25. ...
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