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Reply #91: Lucent, Alcoa fall during late trading, WD-40 shares also dip [View All]

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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-10-06 04:56 PM
Response to Reply #81
91. Lucent, Alcoa fall during late trading, WD-40 shares also dip

SAN FRANCISCO (MarketWatch) -- Lucent Technologies Inc. shares dropped during Monday's evening-trading session after the telecom-equipment maker said that fiscal third-quarter earnings would come in at half the level expected by analysts.

Alcoa Inc. shares declined too after the world's largest aluminum maker reported second-quarter earnings that matched analysts' expectations.

WD-40 Co. also fell after the lubricant company gave a fiscal full-year forecast that was below Wall Street's estimates. Key Tronic Corp. surged after lifting earnings estimates.

Lucent (LU : 2.34, -0.03, -1.3% ) lost 6% to $2.20. The company, which agreed to merge with French rival Alcatel (ALA : 12.30, -0.13, -1.0% ) in April, said that it sees third-quarter income of 2 cents a share. Analysts polled by Thomson First Call had expected per-share earnings of 4 cents.

The company also forecast third-quarter revenue of $2.04 billion, below analyst estimates.

<snipping back to Alcoa>

Income from continuing operations totaled $752 million, or 86 cents a share, matching the number analysts surveyed by Thomson First Call had expected. Quarterly revenue at Alcoa (AA : 33.41, -0.14, -0.4% ) fell slightly short of Wall Street estimates. See full story.

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