MDR - MDR Stock Plunges on Higher Q3 Losses CFO Resigns
MDR stock slumped after McDermott International Inc (NYSE:MDR) reported a worse than expected third-quarter loss and weaker than expected revenues.
Weak EarningsThe energy sector has had its fair share of bumps this year, and the uncertainty in the sector has had its toll on many companies. However, nothing could have prepared investors and market watchers for the third-quarter financial results of oil field services company McDermott International.
The company suffered a loss of a mammoth $1.9 billion, while it generated revenues of $2.1 billion. In the year-ago period, McDermott had generated profits of ...
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