Brush Engineered Materials (BW) Dips Lower as Analyst Downgrades Following Earnings
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Shares of Brush Engineered Materials (NYSE: BW) spiked lower this afternoon following a mid-day downgrade at DA Davidson. The firm cut its investment rating from Buy to Neutral.
The downgrade follows this morning's Q3 results. The company reported quarterly EPS of $0.01 on sales of $190.5 million. The Street was looking for Q3 EPS and sales of $0.08 and $184.80 million, respectively.
Brush Engineered Material Inc., through its subsidiaries, engages in the manufacture and sale of engineered materials for the telecommunications and computer, data storage, aerospace and defense, automotive electronics, industrial components, and appliance and medical markets in the United States and internationally.
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professional fees
Brian on Oct 30, 2009 06:10 PMI'd like to see BW disclose how much it has paid a certain huge law firm each quarter for the last 10 years. It's silly for this little company to be a captive client of biggie firm when other law firms will do this paper-shuffling defense work for a lot less and won't brag about it on their employee profiles on their law firm web site. I own 50,000 shares and want to see some major shakeup in this company.