C&D Technologies (CHP) Shares Plummet ON Announcement Of Loss
C&D Technologies (NYSE:CHP - News) shares plummeted 24% after the Blue Bell, Pa., maker of electrical power storage and conversion products said it now expects losses for its third quarter to be worse than previously anticipated. The company also said it expects losses to continue at least through the end of its fiscal year on Jan. 31. It previously forecast a profit for the fourth quarter of fiscal 2007. The company cited continued rapid escalation of lead costs to historically unprecedented levels for the poor outlook, as well as softness in certain end markets for its power electronics division.
posted by Stock Administrator @ 10:48 PM
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