Caesarstone: Plunges on Q1 miss, lowered forecast
09/05/2018 16:08
** Israel's Caesarstone CSTE.O drops as much as 25 pct to
>5-year low of $13.90; top loser among U.S. stocks
** Maker of quartz countertops reports lower-than-expected
Q1 profit, revenue, hurt by fall in sales in U.S. and Australia;
says U.S. decline due to competitive environment urn:newsml:reuters.com:*:nBw9FMqrqa
** Co also cuts FY18 revenue forecast to reflect weak Q1
results
** More than 697k shares traded, ~4x their 30-DMA
** Stock has fallen 35 pct YTD
(Reporting by Amy Caren Daniel in Bengaluru)
((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))