Thursday, December 22, 2011

Stock Alert - Alaska Communications Systems (ALSK), CPI (CPY), American Greetings (AM) - 12/22/11

Shares of Alaska Communications Systems (ALSK) fall 20.5% premarket after the firms slashes its quarterly dividend by 77%, to $0.05/share from $0.215/share. The company calls out an anticipated reduced high cost support for wireline and wireless services and the entry of another player in the Alaska wireless market as drivers for its need to keep more cash on hand.

CPI (CPY): Q3 EPS of -$1.03 misses by $0.11. Revenue of $95M (-10.5% Y/Y) beats by $1.5M

American Greetings (AM): Q3 EPS of $0.50 misses by $0.32. Revenue of $463.6M (+7.8% Y/Y) beats by $23M

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