Printer maker Lexmark (LXK) is retreating after reducing its second quarter earnings per share and revenue outlook. The company blamed weaker than expected demand, particularly in Europe, and currency fluctuations for the reduction in its guidance. The printer maker expects the same factors to negatively affect its results in the second half of 2012. Lexmark now predicts that it will report second quarter adjusted EPS of 87c-89c, down from its previous guidance of 95c-$1.05. Analysts' consensus estimate was 99c. The adjusted EPS excludes restructuring-related and acquisition-related adjustments. In early trading, Lexmark sank 7.82% to 422.41. Other printer makers also fell, with Xerox (XRX) losing 1.62% to $7.28 and Hewlett-Packard (HPQ) retreating 2.12% to $18.94.
As traders wait on the Federal Reserve, putting off any major decisions until they hear the latest word in FOMC …