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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.

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