Cray’s Stock Plunges Due to Smoke and Wider Than Expected Losses - News Summed Up

Cray’s Stock Plunges Due to Smoke and Wider Than Expected Losses


The Seattle-based company’s stock plunged 20% in after-hours trading. Supercomputer maker Cray Inc.’s plans for the year on Tuesday went up in smoke—literally, to a large extent—as smoke damage at a manufacturing facility helped cause the company to sharply cut back its revenue forecasts. Cray said it expects to book just $80 million in...


Source: Wall Street Journal August 03, 2016 00:11 UTC



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