WorleyParsons Slumps After Flagging Earnings Cut: Sydney Mover
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WorleyParsons Ltd., Australia’s largest oil and gas engineering company, plunged the most in four and a half years after cutting its earnings forecast following lower resource spending in Australia and Canada.
The stock slumped 14 percent to A$19.20 at 11:09 a.m. in Sydney, its sharpest decline since October 2008. It earlier plunged as much as 15 percent to A$18.89, the lowest since May