Courtesy of Benzinga.
Snyder’s-Lance Inc (NASDAQ: LNCE) shares are trading lower by $7.00 (17 percent) at $32.91 in Monday’s session.
Along with its CEO retiring, the company provided lower EPS and sales guidance for Q1 and FY 2017 that was well below Street estimates.
One session removed from its all-time high ($40.85), the second-largest salty snack maker in the United States is trading much closer to $30.00 than its all-time closing high posted April 11 at $40.73.
After a sharply lower open, it managed only a $0.17 bounce to $33.43 before continuing its move lower. So far, the ensuing decline took the stock to $31.03, but has rebounded back into the upper $32.00 handle.
That marks the lowest level for the stock since it bottomed at $30.32 in June 2016.
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