After the closing bell sounded last night, Ohio-based utilities firm American Electric Power (NYSE: AEP) issued news that should have a profound impact on the stock in today's trading session. The company lowered its earnings forecast for fiscal 2009 thanks to current operating and economic factors, along with dilution from its planned issuance of new equity. AEP also lowered its capital spending plant for fiscal 2010 and will not provide guidance for 2010 or beyond.The company now expects fourth-quarter earnings between $2.75 and $3.05 per share, which is lower than the earlier estimate of $3.00 to $3.40 per share. Expectations call for earnings of $3.14 per share on a full-year basis.
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