DEC shares traded sharply lower on the New York Stock Exchange yesterday morning after Merrill Lynch analyst George Elling reduced his earnings estimates and short-term investment rating on the stock: he now looks for only $2.25 to $2.30 a share for the quarter that ends this month, from the $2.50 a share DEC had been indicating only last week – which means that DEC could actually score a down quarter because it did $2.29 a share a year ago; adding fuel to a fire that saw the shares off $3.625 at $114 in early trading, DEC said it now believed that estimates below the previous consensus of $2.50 a share for the quarter would be seemingly more appropriate given current circumstances in the industry.
DEC SHARES TRADED LOWER AFTER EARNINGS ESTIMATE FROM ANALYST
