S&P 500 Stock Plunges 24% After Brutal Q1 Loss Stuns Investors

S&P 500 Stock Plunges 24% After Brutal Q1 Loss Stuns Investors

News

By CCN: Stocks are broadly tanking today, but Fluor, Inc., a Texas construction outfit, is leading the charge, with a roughly 24% loss by press time. The company lost 48 cents per share and announced the resignation of its 8-year CEO David Seaton. Fluor reported quarterly losses of over $54 million, an increase of 200%, compared with this time last year. S&P 500 Company’s Earnings Report Triggers Immediate Sell-Off Fluor was the S&P 500’s worst-performing stock today, as investors couldn’t get out fast enough. For the previous five days, the stock had been trading at around $40, with low volume

The post S&P 500 Stock Plunges 24% After Brutal Q1 Loss Stuns Investors appeared first on CCN