Aircraft-leasing and maintenance company AAR Corp. (AIR) slid 3.78, or 17%, to 18.26 after predicting that results for the fourth fiscal quarter ending May 31, 2010 will be below Wall Street’s expectations due to a slower than expected recovery in demand in its commercial-aviation business.
The company said it expects fourth quarter sales to be $355 to $365 million and diluted earnings per share of $0.25 to $0.30. Analysts, on average, estimated 41 cents.
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