Nuance Plunges After Cutting Full-Year Forecasts: Boston Mover
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Nuance Communications Inc., a maker of speech-recognition software, plunged the most in more than six years after the company lowered its full-year sales and earnings forecast as new technology curbed use of older transcription services.
The stock retreated 19 percent to $20 at the close in New York, for the biggest decline since August 2006. The stock has lost 10 percent this year, compared with a 6.7 percent advance for the Russell 1,000 Index.