FMC Shares Moving On Guidance Change

Shares of FMC FMC were down as much as 2.3 percent in Monday's pre-market after the company cut guidance.

Second quarter EPS is expected between $0.95 and $1.05 versus the previous range of $1.05 and $1.15, a 9.1 percent drop from the midpoint. Full year 2014 earnings are expected to land in the range of $4.10 and $4.30 versus $4.35 and $4.55, a six percent reduction from the midpoint.

According to the announcement, FMC’s agricultural unit had expected sales lost due to bad weather in the first quarter to be recovered in the second quarter. Although there was an increase in buying, it was not enough to match guidance.

Shares of FMC were last trading down 1.79 percent to $73.41 on very light volume Monday morning.