AGILENT TECH (A)
Dec 18, 2008
Agilent Technologies Inc. has been struggling along with many other companies
in a very challenging market. The stock is one of approximately 220 stocks on
the Zacks #5 Rank (Strong Sell) list. Since 1988, Zacks #5 Rank stocks have
underperformed the S&P 500 by 129% annually (+5.3% vs. +12.1%).
Agilent Technologies Inc. (A) recently cut its
quarterly earnings guidance for the second time in a month, saying the
deepening economic crisis was affecting customers more than it had previously
anticipated. The company now sees first-quarter profit ranging between 28
cents and 32 cents per share, down from 34 cents and 38 cents. The average
analysts? 2009 profit forecast for has been cut to $1.43 per share from $1.98
in the last month.
Fossil Inc. (FOSL) lowered its quarterly guidance, citing a weaker economy and
pressure from the strengthening U.S. dollar. The watchmaker now expects to
earn 70 cents per share in the fourth quarter, down from the range of 94 cents
to 97 cents, it had forecast earlier. For the full year 2008, the consensus
estimate has dropped by a penny to $2.02 per share in the last week, while the
most accurate estimate is even lower at $2.
The Zacks #4 Rank (Sell) list has helped investors avoid stocks likely to
underperform the broader markets. Two stocks currently appearing on the Zacks
#4 Rank list are: Fastenal Co. (FAST) and Textron
Inc. (TXT).
Fastenal Co. (FAST) reported a 3.3% drop in November sales, hurt by falling value
of the Canadian dollar. Sales for the month came in at $167.3 million,
compared with $173.1 million a year ago. The industrial supplies company has
lost more than 15% of its value this year. However, the stock has a lofty P/E
of 18.3X compared with the industry average of 8.5X. The consensus estimate
for the company?s 2008 earnings has gone down by 2 cents to $1.90 per share in
the last month.
Textron Inc. (TXT) reported third-quarter profit that missed estimates and lowered
its jet delivery outlook for 2009 due to waning demand. The company?s
quarterly profit came in at 85 cents, while analysts were looking for 87 cents
per share. Textron will now deliver a little over 475 jets next year, compared
with its earlier estimate of 535 Citation deliveries for 2009. The consensus
estimate for fiscal 2008 has been lowered by a penny to $3.60 in the last
month.
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