US Stock Market Move | Q2 performance below expectations and full-year profit guidance lowered by Fluor Corporation (FLR.US), causing a drop of over 30%.

On Friday, Fluor Corporation (FLR.US) plunged more than 30%, after surging 58% since April, and is now trading at $38.53. On the news front, the company reported adjusted earnings per share for the second quarter of 43 cents, lower than Wall Street's expectations of 55 cents. Total revenue amounted to $3.98 billion, down from $4.23 billion in the same period last year, and also below analysts' consensus of $4.51 billion. Fluor Corporation lowered its full-year profit guidance, citing "customer hesitancy due to economic uncertainty." Management now expects earnings per share to be between $1.95 and $2.15, down from the previous target range of $2.25 to $2.75.