by Wolf Richter
Wolf Street
When NCR announced its preliminary and disappointing third quarter results today, it lowered its guidance for the rest of 2014. Its stock got knocked into a breathtaking 21% plunge. While at it, NCR revealed to just what extent brick-and-mortar retailers were sinking into a quagmire.
The maker of, among other things, point-of-sale devices for the retail industry should know: It is, as it says, “the global leader in consumer transaction technologies.”
It blamed “global macroeconomic conditions” such as “foreign currency headwinds.” The dollar had surged recently to regain some of the value it had lost before – very unwelcome news for Corporate America.
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