After-Hours Movers 3/30: AEP and IR Lower on Warnings, OXM Falls on Results
American Electric Power (NYSE: AEP) 4% LOWER; lowers its FY09 EPS guidance from $3.00-$4.00 to $2.75-$3.05 per share. The revised guidance recognizes current operating and economic factors and reflects dilution from the company's planned issuance of new equity.
Oxford Industries (NYSE: OXM) 2.4% LOWER; reports Q4 EPS of $0.06, ex-items, 3 cents better than the analyst estimate of $0.03. Revenue for the quarter was $199.9 million, versus the consensus of $199.57 million. The Company announced that its Board of Directors has declared a cash dividend of $0.09 per share payable on May 1, 2009 to shareholders of record as of the close of business on April 15, 2009. The dividend represents a 50% reduction from its previously declared quarter dividend of $0.18. The Company noted that given the lack of visibility caused by the highly uncertain economic environment, it will not be providing 2009 sales and earnings guidance.
Ingersoll-Rand Company Limited (NYSE: IR) 2.1% LOWER; announces $1 billion in new financing and a reduction in the quarterly dividend from $0.18 to $0.07. IR also said it expects its Q1 earnings to be at the low end of its previously forecasted range of $(0.15) to breakeven. Q1 rev guidance moves from $3.1-$3.2 billion to $2.9 billion. For FY08, the company sees EPS around $1.40, down from the previous guidance of $1.85-$2.25. The Street is currently looking for FY08 EPS of $1.78. Click here for the full report.
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