News Update: Quest Diagnostics Inc. Slashes 2010 Outlook (DGX)

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Shares of Quest Diagnostics Inc. (NYSE:DGX) dipped 5.6% earlier Wednesday, following the company's Q2 earnings report, which showed revenue of $1.87 billion, off 1.4%, and a 3.3% drop in shares outstanding. Street estimates expected revenue of $1.93 billion, or $1.06 per share. The diagnostics testing and information services company slashed its 2010 outlook from $4.00-$4.20 per share, to $3.90-$4.00 per share, with a 1% decline in revenue. SmarTrend alerted subscribers to take profits in Quest Diagnostics on May 04, 2010 at $56.01; since then the stock fell 15.6%. We are now watching for any positive developments that could result in a new uptrend signal. Quest Diagnostics is currently below its 50-day moving average (MA) of $51.91 and below its 200-day MA of $56.25. In the last five trading sessions, the 50-day MA has fallen 1.1% while the 200-day MA has slid 0.1%. Shares of the company continue to trade down 5.39% Wednesday afternoon at $47.26.