Shares of CACI ( CAI) were among the NYSE's losers Thursday, plunging 16% after the information technology contractor slashed its fiscal 2007 guidance. The company now anticipates earnings of $2.45 to $2.65 a share for the year ending June 30, below its prior forecast of $2.91 to $3.15 a share. CACI predicts revenue of $1.875 billion to $1.95 billion, compared with its earlier projection of $2 billion to $2.1 billion. Analysts polled by Thomson Financial project earnings of $3 a share and revenue of $2.02 billion. "This revised guidance is based upon unexpected reductions in demand on contracts supporting certain operations and maintenance activities in the Department of Defense," the company said. For the second quarter ended Dec. 31, CACI estimates earnings and revenue will be at the low end of its previous guidance. In November, the company projected earnings of 65 cents to 72 cents a share on revenue of $475 million to $495 million. Analysts project earnings of 70 cents a share and revenue of $485.6 million. Shares were trading down $8.90 to $46.20. Applied Industrial Technologies ( AIT) fell 7% after the industrial products company's second-quarter revenue fell short of forecasts. For the period ended Dec. 31, the company earned $18.6 million, or 42 cents a share, up from $15.3 million, or 33 cents a share, a year earlier. The earnings matched analysts' mean estimate. Revenue rose to $472.4 million from $456.2 million, but missed Wall Street's forecast of $491.3 million. Applied Industrial said it now expects fiscal 2007 earnings of $1.80 to $1.85 a share. Previously, the company targeted earnings of $1.80 to $1.90 a share. The company sees revenue of $2.01 billion to $2.04 billion. Analysts project earnings of $1.87 a share and revenue of $2.06 billion. Shares were trading down $1.93 to $24.76.
Shares of Acco Brands ( ABD) slid 10% after the office supplies company cut its 2006 profit projection. The company estimates earnings before interest, taxes, depreciation and amortization of $196 million to $198 million. Previously, the company predicted earnings of $212.5 million on this basis. Acco blamed the revision on product sales in the fourth quarter that did not materialize as expected. Shares were down $2.46 to $23.31. Jefferies Group ( JEF) rose 5% after the brokerage firm's fourth-quarter results topped expectations. The company earned $55.8 million, or 38 cents a share, on revenue of $374.2 million. Analysts projected earnings of 34 cents a share on revenue of $356.8 million. A year earlier, the company earned $46.7 million, or 34 cents a share, on revenue of $342.9 million. Shares were trading at $29.77, up $1.42. Shares of Guess? ( GES) rose 4% after the clothing retailer lifted its fourth-quarter earnings estimate. The company now sees earnings of 91 cents to 93 cents a share, up from an earlier forecast of 65 cents to 67 cents a share. Analysts project earnings of 72 cents a share. For the full year, Guess? expects to post earnings of $2.60 to $2.62 a share, up from an earlier projection of $2.34 to $2.36 a share. Analysts project earnings of $2.41 a share. Shares were trading up $3.06 to $77.55. NYSE volume leaders included Motorola ( MOT), up 12 cents to $18.59; Ford ( F), up 6 cents to $8.10; EMC ( EMC), down 42 cents to $13.62; General Electric ( GE), down 29 cents to $37.69; Pfizer ( PFE), up 18 cents to $27.07; Sprint Nextel ( S), up 19 cents to $17.19; and Equity Office Properties ( EOP), up 52 cents to $51.46. Nasdaq's heavily traded stocks included Apple ( AAPL), down $4.42 to $90.53; Intel ( INTC), down 49 cents to $20.55; Cisco Systems ( CSCO), down 26 cents to $26.72; Sun Microsystems ( SUNW), down 12 cents to $5.87; Applied Materials ( AMAT), down $1.04 to $18.36; Level 3 Communications ( LVLT), down 17 cents to $6.07; Oracle ( ORCL), down 24 cents to $17.28; and Microsoft ( MSFT), down 7 cents to $31.03.