Zoetis Shares Fall Further After Downbeat 2015 Outlook

Shares of Zoetis extended losses in afternoon trade Tuesday, after the animal health company provided a downbeat profit and sales outlook for next year. The company said at a meeting with investors that it expects full-year 2015 adjusted earnings per share in the range of $1.61 to $1.68, which was below the FactSet consensus analyst forecast of $1.72. The company also expects 2015 revenue of $4.85 billion to $4.95 billion, compared with analyst projections of $4.96 billion. The stock was down 2.1% in recent trade. Just prior to a trading halt, that was in effect from 1:31 p.m. ET to 1:44 p.m. while the company's news was being disseminated, the stock was down about 0.6%. Earlier Tuesday, the company had announced a $500 million stock buyback program.

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