Business
    Next Score View the next score

    Mass. Mover

    Nuance plunges as profit, sales disappoint

    Nuance’s tools let the iPhone’s virtual assistant, Siri, and other devices react to speech.
    Globe file photo/2007
    Nuance’s tools let the iPhone’s virtual assistant, Siri, and other devices react to speech.

    Nuance Communications Inc. plunged after quarterly profit and sales missed estimates. The shares touched $18.75 for the biggest intraday fall since 2004, Bloomberg said. Profit excluding some items was 34 cents a share on sales of $484 million; analysts estimated 40 cents on $514.8 million. Carl Icahn this month disclosed a 9.3 percent passive stake in Nuance, spurring speculation he may seek big changes at the Burlington company, which will buy back up to $500 million of its stock.

    Advertisement