Osram Licht AG (OSR) fell the most since the shares began trading in July after the world’s second-biggest lighting company cut its revenue target amid slowing sales of traditional lightbulbs.
Revenue will remain flat or at best increase moderately, while adjusted earnings before interest, taxes and amortization will still represent at least 8 percent of sales, the Munich-based company said in an e-mailed statement. The shares fell as much as 10 percent. Read more.