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Hartford Financial guidance mostly below estimates
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HARTFORD, Conn. - Hartford Financial Services Group Inc. on Thursday issued 2009 earnings guidance mostly below Wall Street's expectations.
The financial services company expects core earnings between $5.80 and $6.20 per share.
Analysts polled by Thomson Reuters, on average, expect full-year earnings of $6.08 per share.
The guidance assumes a pretax underwriting loss of $160 million from other operations in property and casualty, the company said.
Hartford said that the ongoing financial crisis increases the likelihood that its guidance will turn out to be incorrect.
Shares plunged $2.89, or 19 percent, to $12.20 in after-hours trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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