Despite having lowered its forecast, however, the majority of analysts are still confident in the company, with 16 of 22 maintaining a buy rating on the stock. The company has a market capitalization of $28.48 billion, and is currently trading around $90.02 per share. So far this year, the stock is up 7.72 percent.
Ultimately, expect a tough reaction to disappointing earnings tomorrow. Going forward, the company needs to figure out how to reduce costs and improve efficiencies under the current uncertain global economic environment. The company remains fundamentally strong, but it has issues it needs to address, and expect that to reflected in the stock price the remainder of this week.
Brandon Kieltyka is currently an undergraduate studying Finance at Daytona State College.
Twitter: @kieltyka05