- Cal Dive International (DVR -27.8%) plunges to 52-week lows before rebounding slightly, after reporting a Q2 loss of $0.31/share and saying results were significantly hurt by unseasonably adverse weather that delayed completion of two of its four Mexico projects.
- Included in the Q2 loss was a $6.2M after-tax charge for the provision of doubtful accounts related to a receivable owed by a contractor in Mexico that became subject to bankruptcy proceedings in July.
- DVR also said its board authorized management to explore a broad range of strategic alternatives to enhance stockholder value.
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