Cal Dive plunges to 52-week lows after posting Q2 loss

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.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs