Movers: Macy's, ADC Telecom, BE Aerospace, Humana
Macy's (M) sees fiscal year 2010 same-store sales down 6%-8%, EPS of $0.40-$0.55, excluding restructuring-related costs. Sets companywide 7,000 position elimination, or about 4% of its total workforce; sees pre-tax costs of $400 million in cash, most of which are expected to be taken in fiscal year 2010. Commences tender offer to redeem $950M in debt that is maturing later in 2009. Cuts $0.1325 quarterly dividend to $0.05.
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