Abercrombie Plunges on High Volume – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/20777/Abercrombie+Plunges+on+High+Volume+-+Zacks+Tale+of+the+TapePosted on Thursday, June 4th, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Shares of Abercrombie & Fitch Co. (ANF) plunged more than 12% on heavy volume of 9.8 million shares. The daily average volume is around 4.9 million.
The company reported a 28% fall in same-store sales for May.
In its fiscal first quarter, this Zacks #4 Rank (”Sell”) company lost 31 cents per share, which was wider than the consensus’ loss estimate by 18 cents, or more than 138%.
The average forecast for the current year has declined to $1.09 per share from $1.59 in the past month, as 23 analysts out of 26 reduced expectations.
“ANF” Free Stock Analysis: Buy? Sell? Hold?
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