General Cable Group Corp. (BGC) trading weak after a cautious guidance

General Cable Corp. (NYSE: BGC) issued a weak guidance for fourth-quarter that reflects weak demand for its fiber optic and metal cable products.

General Cale Corp. (BGC) stock, which opened with a gap-down down movement, was still trading lower by 9.67% at $37.67 in Monday afternoon trades. The BGC has strong support around $33.95, from where it started last upswing in middle of September.

General Cable Corp. (BGC), which also reported its net income fell 68 percent in the third quarter, expects to earn 20 cents to 30 cents per share in the fourth quarter. Analysts had on average expected a 57 cents per share profit.