Shares of Prudential Financial Drop 3 Percent Due to Poor Earnings Outlook.

Knight Ridder/Tribune Business News,  February, 2003  

Tags: Hackensack, Prudential Insurance Company of America

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By Richard Newman, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

Feb. 13--Prudential Financial's shares tumbled 3 percent Wednesday as the company vowed to do more cost-cutting and investors frowned on its earnings outlook.

Shares in Prudential, which instantly became one of the most widely held stocks in the country when it went public a little more than a year ago, ended the day down 90 cents, at $29.

Shares, which fell 50 cents Monday, are down 7.9 percent for the year.

Prudential reported late Tuesday a fourth-quarter net loss of $193 million, ...

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