So much for managing expectations.
Over the weekend, The Wall Street Journal and other media reported that Toshiba
was set to forecast a $4.1 billion net loss for the fiscal year through March, sending shares down 9.8% on Monday. After the market closed, the Japanese conglomerate managed to disappoint a bit more, saying it expects to lose a honking $4.6 billion.
For Toshiba, this merely caps off a very bad year. Its shares are down 47% since news of accounting irregularities first surfaced in May. Since then, it has revised past profits down by $1.9 billion.
Read the full article at: http://www.wsj.com/articles/toshiba-restructuring-ad-infinitum-1450691415