Sonic Automotive Drops In After-Hours On Lowered Guidance

Mon. July 14, 2008; Posted: 05:28 PM

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(RTTNews) - Sonic Automotive Inc. (SAH | Quote | Chart | News | PowerRating) is falling during after-hours trading on Monday following a lowered full-year EPS guidance. At 5:25 pm ET the stock is trading at $9.05 down $1.26 from Monday's close.

With the decline, the stock stands to open below support and at a new multi-year low.

The company said it now expects full-year EPS from continuing operations to be $1.65 to $1.85, down from its prior estimate of $2.35 to $2.50.

Analysts polled by First Call/Thomson Financial expect the company to earn $2.19 per share for the year.

For full details on Sonic Automotive Inc (SAH) click here. Sonic Automotive Inc (SAH) has Short Term PowerRatings of 4. Details on Sonic Automotive Inc (SAH) Short Term PowerRatings is available at This Link.

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