RRD - Why R.R. Donnelley Stock Is Plunging Today
Shares of R.R. Donnelley & Sons (NYSE: RRD) have been moving higher of late on optimism that the 157-year-old printing company's push to revamp the business was beginning to take hold. But first-quarter earnings came in well below expectations, causing the stock to fall by as much as 20% on Wednesday morning.
R.R. Donnelley is best known as a printing company, but with the world moving online the company has been working to move beyond paper and into a range of multichannel business communications services and marketing products.
The company has also been working to pay down its debt, hoping for more balance sheet flexibility.
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Why R.R. Donnelley Stock Is Plunging Today