Hewitt Associates Inc. (HEW) reported first quarter EPS of $0.71 Monday morning, which fell short of the consensus estimate of $0.74. The company also announced that it closed on a partial divestiture of its Executive Compensation Consulting business in North America.
Hewitt Associates gapped down sharply Monday, but regained some ground in early trade. The stock settled into a range for the majority of the session and finished lower by $1.32 at $38.16 on strong volume. Hewitt Associates has been on a downward trend for the last month and fell to nearly a 3-month low.
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