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Thursday, October 02, 2008
Molex Cuts Quarterly Revenue, Earnings Per Share Guidance
Sarah Turner
MarketWatch Pulse
LONDON -- Electronic components company Molex Inc. cut its September quarter revenue and earnings per share guidance. Revenue is now expected in a range of $840 million to $845 million, down from a prior estimate of between $860 million and $880 million. Earnings per share are now expected at between 25 cents and 29 cents, down from a prior estimate of between 35 cents and 40 cents. The company said its lifted its restructuring charge estimate to 6 cents a share, from 1 cent a share, due to accelerating a portion of the program. It has seen reduced demand primarily from the telecom/data infrastructure and automotive markets.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
