Aggreko (LSE: AGK) outlook disappoints, and Vodafone (LSE: VOD) slides further.
The FTSE 100 (UKX) is continuing the down day it has last Friday, dropping 29 points to 5,893 by mid-afternoon. Still, it's only a small fall, and the index of top UK stocks did reach new nine-month highs several times last week.
Some individual constituents of the various FTSE indices have experienced somewhat bigger falls today. Here are three on the way down:
Aggreko
The Aggreko (LSE: AGK) share slump continued today, as the price lost a further 372p (17.5%) on the release of a pre-close trading update. Expectations for 2012 actually sound pretty good, with full-year performance said to be in line with expectations, and earnings per share (EPS) rising by "at least 15%".
However, the firm that provides temporary power supply and temperature control equipment also warned that 2013's performance is likely to be below this year's, suggesting that turnover would be around £100m down, with EPS no better than flat -- previous forecasts has suggested a 10% EPS rise.
Hunting
Hunting (LSE: HTG), the oil and gas services group, saw its shares fall 42p (5.2%) on the release of its pre-close trading statement, despite things looking pretty reasonable. Trading is in line with expectations, net debt is modest at £205 million, and the firm has resolved a tax dispute in its favour.
But the usual bugbear is Hunting's outlook, as the firm said that "the short term outlook is increasingly cautious due to the economic climate seen in a number of our operating regions".
Vodafone
Shares in Vodafone (LSE: VOD) (NASDAQ: VOD.US) dipped by 3.7p (2.3%) to 157p after the telecoms operator announced the latest purchase in its share buyback programme. Six million shares have been purchased, at a price of 161.7p per share, taking the total purchased since 10 December to 33 million, for a total cost of £53 million.
Share buybacks are supposed to boost shareholder value, but it's a controversial subject. And Vodafone's recent share price slide has not been a testament to success this in this instance. But who can resist that 7% dividend yield forecast for the year to March 2013?
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> Alan does not own any shares mentioned in this article.
