Oppenheimer Tweaks Estimates on Scotts Miracle-Gro (SMG)

Oppenheimer published its company update yesterday on Scotts Miracle-Gro SMG in which they change quarterly estimates after reviewing additional fiscal 2011 guidance. In a note to clients, Oppenheimer writes, "our F1Q 2011 EPS estimate is now a loss of $0.92 vs. a loss of $0.72 prior, with this reflecting the anticipated timing of shipments, as well as severance costs and spending to support certain initiatives, which are expected to cause F1Q's pre-tax loss to be $20-25M greater than the year-ago loss of $76M." SMG closed Monday at $50.56.