Shares of Lexmark ( LXK) were among the NYSE's losers Tuesday, plunging 25% after the printer maker slashed its third-quarter earnings guidance in half and said fourth-quarter results also would be below forecasts. The company now expects earnings of 40 cents to 50 cents a share, down from its prior forecast of 95 cents to $1.05 a share. Lexmark now expects third-quarter revenue to fall by 4% to 5%, worse than its previous guidance calling for low-single-digit growth. Analysts surveyed by Thomson First Call had been expecting earnings of $1.02 a share on sales of $1.3 billion, or sales growth of about 2%. Lexmark blamed the weak outlook on lower laser and inkjet supplies revenue. Looking ahead, Lexmark said the issues that plagued its third quarter would hurt its fourth-quarter results as well, and predicted that fourth-quarter earnings and sales will be below analysts' average estimates. According to First Call, analysts project earnings of $1.17 a share on sales of $1.56 billion. Lexmark shares were trading down $15.29 to $45.65. Clorox ( CLX) shares fell 1% after the company cut its fiscal second-quarter earnings forecast. The consumer products maker reduced its earnings forecast to 41 cents to 47 cents a share from its previous guidance of 50 cents to 57 cents a share. Analysts had been expecting earnings of 55 cents a share for the quarter ending Dec. 31. Clorox said second-quarter results would be hurt by rising energy costs and the impact of the recent hurricanes in the Gulf Coast region. Sales, meanwhile, are still expected to grow by 1% to 3%. Clorox left its first-quarter earnings forecast intact, saying that it would earn 68 cents to 72 cents a share for the quarter ended Sept. 30 on better-than-expected sales growth of 5% to 6%. Analysts are expecting earnings of 68 cents a share on sales of $1.09 billion, or sales growth of 4%. Shares were trading down 62 cents to $53.96.
Shares of Nu Skin Enterprises ( NUS) dropped 14% after the company cut its third-quarter earnings and sales forecast. The maker of personal care products now expects earnings of 24 cents to 26 cents a share on sales of $290 million. Previously, the company forecast earnings of 29 cents to 30 cents a share on sales of $298 million to $303 million. Analysts had been expecting earnings of 30 cents a share on sales of $302.7 million. "Changes to the company's compensation plan in China resulted in a larger-than-expected decline in the number of sales representatives during the quarter," the company said. "Consumer uncertainty regarding the regulatory framework for direct selling in China is also negatively impacting sales." As a result of the difficult conditions in China, the company now expects to post an 11% decline in sales to the country during the third quarter. For the fourth quarter, Nu Skin now expects sales of $300 million to $306 million, down from an earlier forecast of $320 million to $325 million. Analysts project sales of $323 million. For the entire year, the company expects sales of about $1.2 billion; analysts forecast sales of $1.23 billion. Nu Skin now expects full-year sales in China of $100 million to $105 million, down from its previous guidance of $110 million to $120 million. Shares recently fell $2.59 to $16.11. Too ( TOO) rose 5% after the retailer raised its third-quarter earnings and sales view. The company now expects earnings of 41 cents to 43 cents a share on same-store sales growth in the mid-single digits. Previously, Too predicted that it would earn 39 cents a share on same-store sales growth of 3% to 4%. Too attributed the improved outlook to stronger-than-expected back-to-school sales. Shares were trading up $1.31 to $29.16. Shares of Martin Marietta Materials ( MLM) rose 1% after the construction materials company lifted its third-quarter earnings guidance. The company now expects earnings of $1.61 to $1.66 a share, up from its earlier view of $1.20 to $1.35 a share. The projection includes a one-time gain of 17 cents a share related to a decrease in estimated tax liabilities. Analysts had been expecting earnings of $1.30 a share. A year earlier, the company earned $1.11 a share. The company attributed its improved outlook to strong aggregates pricing and cost management. Shares were trading up 75 cents to $80.68.
NYSE volume leaders included Lucent Technologies ( LU), up 11 cents to $3.42; Hewlett-Packard ( HPQ), down 45 cents to $28.45; Calpine ( CPN), up 20 cents to $2.94; Texas Instruments ( TXN), down 88 cents to $33; Nortel Networks ( NT), up 8 cents to $3.38; Chesapeake Energy ( CHK), up 12 cents to $38.98; General Electric ( GE), down 6 cents to $33.17; and Motorola ( MOT), up 15 cents to $22.59. Nasdaq volume leaders included Sun Microsystems ( SUNW), up 35 cents to $4.54; Microsoft ( MSFT), down 51 cents to $24.99; JDSU ( JDSU), up 3 cents to $2.18; Intel ( INTC), up 19 cents to $24.79; Oracle ( ORCL), down 3 cents to $12.35; Dell ( DELL), down 33 cents to $33.94; and Cisco Systems ( CSCO), up 13 cents to $17.87.