Lexmark (LXK): Canary In The Coal Mine?

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

After Lexmark (LXK) told Wall St. that it would miss second and third quarter numbers, the stock dropped about 10% to $45 after hitting a 52-week low of $43.50 earlier in the day.

It seems that the printer business is not so hot.

But, are the printer and PC businesses that disconnected? Dell (DELL) and HP (HPQ) both trade near 52-week highs. Dell is around $25 up from $20.52 as a low over the last year. HP is at almost $46, up from $30. HP has a very large printer operation.

The market would have to believe, as clearly it does now, that Lexmark’s problems are restricted to the company and have not spread to other firms in the industry.

But, that may not be true.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

HPE Vol: 12,285,748
SMCI Vol: 4,166,345
GNRC Vol: 87,525
LII Vol: 19,724
GLW Vol: 727,284

Top Losing Stocks

CTRA Vol: 73,319,495
INTU Vol: 427,724
TTD Vol: 1,384,921
WDAY Vol: 231,354
NOW Vol: 3,975,898