NEW YORK (TheStreet) -- One of Monday's biggest sector losers has been the electronic office equipment group.
stock was lower by 3.1% to $1.89, nearing its 52-week low of $1.55. In the third quarter, the digital solutions provider posted an operating loss of about $1.3 million, compared with a loss of about $6.1 million the same time last year. The company continued to see "sluggish" sales in this year's third quarter due to declines in its traditional, consumables and service businesses.
shares have been falling 2.9% to $11.42. Over the past year, the stock has traded at a high of $11.96 and low of $7.64 as the company's business process outsourcing and information technology services unit Affiliated Computer Services aims to expand its Medicaid business to the exchanges or online marketplaces mandated by the federal healthcare reform. The office equipment provider's ACS unit recently became one of the largest providers of customer care services to the pharmaceutical, biotech and healthcare industries through the acquisition of
from private equity firm
Palm Beach Capital
. According to the
Wall Street Journal
is currently conducting a healthcare dependent audit through ACS.
has fallen 1.8% to $22.05. The mail processing equipment provider says that a number of its smaller customers still have uncertain economic outlooks. However, Pitney has seen a pick-up in demand from larger U.S. enterprise customers, reflected by increased mail volumes processed by Pitney's mail services business and improved demand for its software solutions and equipment products. During the third quarter, Pitney's earnings declined 14%, but surpassed Wall Street estimates on an adjusted-basis.
Computerized manufacturing systems provider
shares were falling 4.1% to $7.09, also helping to drag down the group. Over the past 12 months, the stock has reached a high of $8.03 and a low of $4.64.
-- Written by Andrea Tse in New York.
>To contact the writer of this article, click here:
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to:
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.