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©bahar-bostanci-dreamstime.com Electronics Production | May 02, 2012

Hon Hai Precision takes a hit

Shares in Hon Hai Precision Industry Co Ltd took a sharp fall Monday, following poor quarterly profits.

Hon Hai shares opened on Monday, falling the maximum 7 percent allowed in a session and remained there until the close. It was the stock's biggest one-day drop since November 2008 according to Reuters. Hon Hai's first-quarter net profit - T$14.92 billion (384 million euro) – was up 3.6 percent, but well bellow analysts' forecasts.
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