Santa Filling Naughty Companies Stockings with Warnings, Not Coal (WFR, R, AVY, FORM, more)
Numerous companies issued warnings today after the close, definitely indicating a sign of the times.
- Take-Two (Nasdaq: TTWO) reported Q4 earnings and issued Q1 and FY09 outlooks that were well below the Street estimates.
- Atheros Communications (Nasdaq: ATHR) cut Q4 sales and EPS guidance.
- Integrated Silicon (Nasdaq: ISSI) lowered sales guidance for its December quarter.
- Tennant (NYSE: TNC) announced that it has began implementing a large-scale restructuring program. The company revised its Q4 and FY08 guidance and also said that it would cut 240 jobs from its workforce. Tennant also announced that it suspended its buyback program.
- Ryder (NYSE: R) issued a Q4 EPS forecast that was at the low end of its prior guidance. The company also said that it will cut its workforce by 700 jobs.
- Hub Group (Nasdaq: HUBG) reduced its FY08 EPS guidance, citing lower-than-expected intermodal and truck brokerage volumes.
- FormFactor (Nasdaq: FORM) cut its Q4 sales guidance.
- Avery Dennison (NYSE: AVY) said it expects to see Q4 profits at a lower level than previously anticipated.
- MEMC Electronic Materials (NYSE: WFR) lowered its Q4 sales guidance.
- Wausau Paper (NYSE: WPP) cut its Q4 EPS forecast.
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