View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 6, 1998


By CBR Staff Writer

Printer manufacturer Lexmark International Group Inc has issued a statement asserting that it is unaware of the reason for the sharp decline in its share price over the past week. The company’s stock has fallen from over $70 in the middle of last week to under $60 Tuesday, a drop of more than 18% in five sessions. Lexmark, in response to inquiries from numerous investors and analysts, as well as the New York Stock Exchange itself, said it was not aware of any undisclosed corporate activity or development that would have caused the recent unusual market activity in its stock. Analysts surveyed by First Call are expecting the company to report third-quarter earnings of $0.79 per share, a 46.3% increase over the year-ago quarter. On Tuesday alone, the shares fell $7.50, or 11.5%, to $58. More than 1.5 million shares changed hands, over three times the average daily volume.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy