Wednesday, August 18, 2010

Clobbered in Copenhagen: "Vestas Wind shares slump up to 26% after group slashes outlook" (VWS.CO)

The stock is down 18% in late trade.
From MarketWatch:
Delay to orders in U.S., Spain and Germany cited for lower forecasts
Shares in Vestas Wind Systems slumped as much as 26% Wednesday after the Danish wind-turbine manufacturer slashed its outlook for the year and reported second-quarter results that fell short of market expectations.

The group said it swung to a second-quarter net loss of 119 million euros ($153 million) from a profit of €43 million a year earlier. Revenue fell 17% to €1.01 billion as the group's top line felt the impact of its low order intake last year.

Analysts polled by Dow Jones Newswires had expected a loss of €45 million....MORE