First Horizon Drops on Wider Loss – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/19245/First+Horizon+Drops+on+Wider+Loss++-+Zacks+Tale+of+the+TapePosted on Friday, April 17th, 2009 | In Market Commentary, Stocks to Watch
First Horizon National Corp (FHN) swung to a first-quarter loss of 39 cents per share on mortgages and commercial loans, wider than the consensus for a loss of 24 cents.
Shares were down almost 6% today on volume of 5.2 million, versus average volume of 6 million.
The company’s loss excluded a payment of $14.96 million in preferred stock dividends, which it did not pay a year ago. In October, First Horizon had received an $866 million cash infusion under the U.S. government’s Troubled Asset Relief Program.
Loss estimates for the year have widened by a penny to 60 cents in the past month as 7 out of 16 analysts pulled back on expectations.
First Horizon is a Zacks #3 Rank (”Hold”).
“FHN” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research
Last 5 posts by Zacks Market Commentaries
- CNP & FPL Ink Pipeline Deal - Analyst Blog - November 20th, 2009
- Buffett Borrows for Rail Acquisition - Analyst Blog - November 20th, 2009
- Stone Energy Outdoes Estimates - Analyst Blog - November 20th, 2009
- Smucker's Beats, Raises Guidance - Analyst Blog - November 20th, 2009
- GameStop Meets Expectations - Analyst Blog - November 20th, 2009
cent;, First Horizon National Corp;, Market Commentary, Stocks to Watch, United States, Us Government, USD, Zacks Market Commentaries
 About Zacks Market Commentaries (http://www.zacks.com/)
Zacks Market Commentaries |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.