Lufkin Industries Inc. (LUFK) reported first quarter earnings from continuing operations of $0.74 per share Wednesday morning, down from the $1.05 per share posted last year.
Lufkin Industries Inc. gapped down sharply Wednesday and fell in early trade. The stock declined further around mid-afternoon and closed lower by $7.90 at $29.93 on the highest volume of the year. The stock dropped to over a one-month low and fell below its 50-day moving average.
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