Also, gaming manufacturer International Game Technology (IGT) returned –22.00% after a subpar earnings report. Its revenue and earnings per share both slid below consensus estimates. Specifically, revenues were 2% lower than Wall Street expected, while the (adjusted) EPS of $0.25 did not meet the $0.30 forecast. The miss came from weak regional gaming trends and higher-than-expected operating expenses. We think operating issues can be corrected and believe management is focused on the issue. In the meantime, we see light business as temporary and industry-wide— beyond IGT's control. We would be more concerned if the short-term results stemming fr om lost market share, for instance. Although there have been headwinds for this company, we remain optimistic over the long term.
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