Dole Food (DOLE -6.1%) craters after suspending the $200M share repurchase program it announced...

|About: Dole Food Company, Inc. (DOLE)|By:, SA News Editor

Dole Food (DOLE -6.1%) craters after suspending the $200M share repurchase program it announced earlier this month. The company has decided to purchase three new refrigerated container ships instead for $165M, replacing three existing ships which are nearly three decades old. DOLE also says it expects "full-year losses in [the] strawberry business to be ~$23M below plan." (PR)