Regal Beloit Corp. (RBC) reported first quarter adjusted EPS of $1.08 after the close Tuesday, down from $1.15 in the prior year period. The consensus estimate was for EPS of $1.15.
Regal Beloit gapped open sharply lower Wednesday and drifted further during the first 2 hours of trade. Shares finished down by 15.53 at $63.09 on the highest volume of the year. The stock sank to a 9-month low.
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