2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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CHICAGO - Shares of Lifeway Foods Inc., which makes the dairy drink kefir, fell Friday, a day after the company said its second-quarter profit fell 35 percent and an analyst downgraded the stock.
| LWAY | 6.79 |  -0.34 |
The stock fell $2.22, or 15 percent, to $12.55 after Lazard Capital analyst Jacklyn Rider downgraded the stock from "Buy" to "Hold" because it reached her $14.77 price target.
She also lowered her 2008 and 2009 earnings-per-share estimates because of expected lower sales and gross margins and higher selling expenses.
In 2008, Rider said she expects Lifeway to earn 26 cents per share--down from her earlier estimate of 30 cents per share. She lowered her 2009 projection to 38 cents per share from 50 cents per share.
Lifeway shares have ranged from $9.02 to $20.75 over the past year.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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