Allegheny Plunges on Heavy Volume – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/20291/Allegheny+Plunges+on+Heavy+Volume+-+Zacks+Tale+of+the+TapePosted on Monday, May 18th, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Allegheny Energy Inc. (AYE) shares plunged 8% today amid abnormally high volume of 17.7 million, against the daily average of 2.7 million.
In the first quarter, the company’s earnings stood at 67 cents per share, missing estimates by 13%.
Five analysts out of 13 lowered expectations, sending the 2009 consensus forecast to $2.34 per share from a month-ago forecast of $2.46 cents per share.
Allegheny is a Zacks #5 Rank (”Strong Sell”) stock.
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