Blue Bird Drops 10% on Pension Charge Update
Shares of Blue Bird Corp. dropped hard Tuesday, taking a bite out of the stock’s recent rally. The move followed a new regulatory filing that flagged an upcoming pension accounting charge for the school-bus manufacturer. The stock dropped 9.6% to $65.75 in afternoon trade, sliding as low as $64.51 earlier in the session. SPDR S&P 500 ETF fell about 0.4% and iShares Russell 2000 ETF, which tracks smaller U.S. firms, slipped about 0.8%.
