Chevron (CVX -2.5%) tumbles at the open following yesterday's announcement that its Q3 profit...

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX -2.5%) tumbles at the open following yesterday's announcement that its Q3 profit will be "substantially lower" than its Q2. UBS cut its Q3 EPS estimate for CVX to $2.83 from $3.22 based on "significant" negative foreign exchange impact, lower-than-expected production, lower liquids realizations and higher corporate expenses.