CATERPILLAR
-$5.43 (11%) to $42.06
Shares of the Peoria-based heavy-machinery manufacturer tumbled after JPMorgan Chase cut its full-year earnings estimates for the firm. Others also fell, with CNH Global losing 15 percent, to $15.10, and Deere dropping 12 percent, to $37.10.
SMURFIT-STONE CONT.
-$1.04 (35%) to $1.95
Stock of the Chicago-based box manufacturer had its biggest percentage decline since shares began trading in 1994. Goldman Sachs cut its rating on the shares to “neutral” from “buy,” saying it is unlikely to be able to raise prices on container board.
DISCOVER FIN. SERV.
-$1.74 (15%) to $10.02
Shares of credit card companies fell hard as the slowing economy dragged down consumer spending. Stock of Visa fell 14 percent, to $49.75, MasterCard shares dropped 12 percent, to $153.55, and American Express slid 13 percent, to $24.41.
