Why These 5 Stocks Are Immersed in a Sea of Red Today

Finally, also among the big losers today is Tutor Perini Corp (NYSE:TPC). The stock is down by over 14% after the company announced (based on preliminary information) that its fiscal year 2015 GAAP earnings will be below its previous guidance, while revenue will be at the low end of that guidance. The first metric will range between $0.85 to $0.90, with expected revenue to reach $5 billion. The company previously guided for GAAP diluted EPS of between $1.90 and $2.10, while projected revenue was in the range of $5.0 to $5.5 billion. The updated guidance also falls below the Street’s consensus estimate of $1.59 in EPS and $5.11 billion in revenue. Furthermore, Tutor Perini announced its preliminary guidance for fiscal year 2016. The firm expects revenue to be in the range of $5.1 billion and $5.6 billion, while diluted EPS is expected to be $1.90-to-$2.00.

During the third quarter, Tutor Perini Corp (NYSE:TPC) also suffered a decrease in popularity among the funds that we track, with 16 investors holding long positions at the end of September, versus 19 funds at the end of June. William Harnisch‘s Peconic Partners LLC was the largest shareholder among those, holding 935,837 shares valued at $15.4 million at the end of September.

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