Claymont Steel(PLTE Quote) was among the Nasdaq's losers Tuesday, as the company disappointed investors with its third-quarter outlook.
The steelmaker's shares dropped 13% after it said it expects earnings of 5 cents to 10 cents a share for the quarter, far below analysts' expectation of 43 cents a share. The company blamed the shortfall on an outage at its Plate Mill, which cut into output and shipments. Shares were trading down $2.75 to $18.40.
Hershey(HSY Quote) shares fell 3.5% after Chairman and CEO Richard Lenny said he would retire. The Wall Street Journal reported Lenny was frustrated with the Hershey Trust, which controls the voting rights for the candy company, though Lenny made no such claims in a company-issued statement. Hershey Trust, which owns 78% of voting rights, recently blocked a sale of the company to rival Cadbury Schweppes(CSG Quote). Hershey shares were losing $1.66 to $45.75. ...
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