Profit warnings to play big part in the ‘new normal’
It has been a strange week for holders of stocks. Champagne corks popped on Wall Street as the Dow Jones burst through the 20,000 point mark for the first time, but closer to home shareholders were being treated to some unpleasant surprises.
Investors in the Irish-Swiss baked products group, Aryzta — which owns the Cuisine de France brand — received quite a jolt when a profit warning was issued through the stock exchange, causing the share price to tank by 36%.
