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Even with a 2% gain in the markets today, nearly one in five firms on the S&P are down.Check out the major movers below:
Abercrombie & Fitch (ANF): Down 19.9% — The teen apparel retailer beat same-store sales forecasts in the U.S. but said that flagship comps in Europe and Asia were negative. Abercrombie has increasingly relied upon international expansion to fuel growth. Pricing concerns abroad may have caught up to the company, where it positions average swing tickets higher than in the U.S.
MEMC Electronics (WFR): Down 11.8% — MEMC reported a quarterly loss after the bell, missing analyst expectations and guiding further lower. Following the news, UBS lowered its target price to $8 from $10.
Kellogg (K): Down 7.6% — Increasing input costs pushed Kellogg’s quarterly profit down 14% to $290 million from $338 million a year ago. Kellogg missed analyst guidance by nine cents and said it would hire 300 factory workers in the U.S. to boost quality control.
Frontier Communications (FTR): Down 7.6% — The regional telecommunication firm bled subscribers during the quarter, taking a 30% bite from earnings power. Revenue dipped to $1.29 billion, just missing analyst consensus of $1.3 billion.
Titanium Metals (TIE): Down 6.1% — Like most of the biggest losers, Titanium Metals posted weaker than expected earnings this quarter. EPS came in at $0.14, four cents below expectations. However, the company expected consumer demand to remain strong into 2012.
Hartford Financial Services (HIG): Down 5.7% — Hartford reported earnings that fell below analyst projections after the value of equities backing retirement portfolios declined. The company also announced that catastrophe damage, including Hurricane Irene, totaled $134 million.