NEW YORK (
) -- Shares of
fell in late trades on Monday after the Los Angeles-based seller of weight management products gave a weak outlook for fiscal 2012.
The company said it expects earnings of $3.25 to $3.45 a share for the year ending in December 2012, below the current average estimate of analysts polled by
for a profit of $3.55 a share.
Herbalife also gave a below-consensus forecast for the current fourth quarter, projecting earnings of 68 to 72 cents a share for the December-ending period. Wall Street's current consensus estimate is for a profit of 74 cents a share.
The stock was last quoted at $61.30, down 1.7%, on volume of around 250,000, according to
Year-to-date, Herbalife has been a standout performer, rising more than 70%, and the shares hit a new 52-week high of $63.40 during Monday's session.
Shares of insurance giant
gained nearly 4% to $27.32 on volume of less than 200,000 after the company beat Wall Street's profit expectations despite a spike in catastrophe losses related to Hurricane Irene and Tropical Storm Lee.
The company reported an operating profit of $84 million, or 16 cents a share, for the September-ended quarter, down from a year-ago equivalent profit of $452 million, or 83 cents a share, but ahead of the average analysts' estimate of 8 cents a share.
""Maintaining auto insurance profitability and proactively managing our investment portfolio enabled us to overcome an increase of $691 million in catastrophe losses from the third quarter of 2010 and still earn a profit," said Thomas Wilson, the company's president, CEO and chairman, in a statement. "Progress was made in improving auto insurance profitability in New York and Florida and raising underlying returns in homeowners insurance."
Year-to-date, Allstate shares have lost nearly 11%, and Wall Street was mildly bearish on the stock ahead of the report with 14 of the 24 analysts covering the stock at either hold (13) or underperform (1).
General Cable Corp.
was the big loser in the extended session after the Highland Heights, Ky.-based wire company disappointed with its fiscal third-quarter report, blaming weak business conditions in Europe and customers deferring purchases late in the quarter because of fluctuations in commodity prices.
The stock was last quoted at $24.01, down 14%, on volume of more than 65,000.
The company reported operating income of $63.4 million, down 21% on a sequential basis from an equivalent profit of $79.8 million in the second quarter. Revenue totaled $1.52 billion for the September-ended quarter, below Wall Street's consensus estimate of $1.61 billion.
"Our third quarter results reflect continuing weak conditions in Europe and the impact of significant currency volatility and rapid commodity deflation in the latter portion of the quarter," said Gregory Kenny, the company's president and CEO, in a statement. In ROW
rest of world, results were generally consistent with expectations through the first couple months of the quarter. However, the extreme volatility experienced in metal prices in the final weeks of September reduced volumes as we believe some distributors and copper rod customers deferred purchases."
General Cable expects fourth-quarter results to continue to feel the pressure. It sees operating income declining to $38 million to $50 million for the December-ending quarter with revenue ranging from $1.40 billion to $1.45 billion.
Other stocks active in late trades included
( WINN), up nearly 9% after the supermarket operator reported a 3.3% increase in same-store sales in the September quarter and said it's seeing similar performance in the first five weeks of the current quarter; and
, which plunged more than 30% after the company said it plans to initiate a late-stage trial of a proposed treatment for metastatic castration-resistant prostate cancer with pain as a primary efficacy endpoint.
Written by Michael Baron in New York.
>To contact the writer of this article, click here:
>To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.