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MONY Group Sees Fourth-Quarter Core Earnings Shortfall
MONY Group(MNY Quote) expects fourth-quarter earnings to fall short of its own projections, and well below Wall Street's expectations, because of an adjustment in assets backing certain employee benefits programs.
The life insurance, annuity and investment products provider said it expects core profits to fall up to 10 cents short of the 51 cents it expected to earn in the quarter. Eight analysts polled by First Call/Thomson Financial are calling for the MONY Group to earn 56 cents a share, well below the $1.99 the company earned in the year-ago period.
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