DETROIT -- Shares of Dura Automotive Systems Inc. stock dropped steeply Thursday, July 27, after the company reported dismal second-quarter results, prompting bankruptcy speculation.
Dura stock closed Thursday down 55.7 percent at 69 cents a share. On Friday, July 31, the stock fell 10.1 percent to close the week at 62 cents.
The Rochester Hills, Mich., company said it posted a second-quarter net loss of $131.3 million on revenue of $573.3 million. That compares with net income of $2.9 million on revenue of $623.8 million for the same period last year.