MM, I think a lot of "old style" investors probably invest in blue chips like WOR and don't bother checking the market on a daily basis to see how their capital is performing. If they did that, it would by definition turn them into day traders. Frankly and sadly, I would imagine many investors in WorleyParsons haven't even heard the news. It actually happened to me a couple of years ago with Transfield. They lost over 25% in a day after an announcement much like the one we've just heard from WOR and I knew nothing about it until weeks after the fact. I'm actually still trying to recover from that one...
You're absolutely correct though, more and more companies seem to be delivering up bad announcements when only weeks earlier, they pronounce the opposite.
By the way, good call on Bloater. I made a similar comment months ago. He's on my ignore now.
WOR Price at posting:
$16.08 Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)