Monday, November 4, 2013

Reuters: Hot Stocks: Nissan tumbles 11 pct to 7-month low after cutting guidance

Reuters: Hot Stocks
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Nissan tumbles 11 pct to 7-month low after cutting guidance
Nov 5th 2013, 00:27

TOKYO | Mon Nov 4, 2013 7:27pm EST

TOKYO Nov 5 (Reuters) - Shares of Nissan Motor Co Ltd dropped as much as 11.6 percent to a seven-month low of 850 yen on Tuesday morning after the automaker cut its annual net profit estimate amid a slowdown in emerging markets and quality issues.

The stock was the third-most traded on the main board by turnover.

The carmaker lowered its net profit forecast for the year ending March 2014 to 355 billion yen ($3.6 billion) from 420 billion yen after the market close on Friday.

Japanese markets were closed for a public holiday on Monday. ($1 = 98.6050 Japanese yen)

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