Shares in Poseidon Concepts Corp. were decimated on the Toronto Stock Exchange Thursday after the company reported weaker quarterly results and lowered earnings and spending expectations for the remainder of the year. The stock plummeted 62 per cent to $5 as 24.6 million shares traded hands. The Calgary company, which handles fluids for clients in the oil and gas industry, reported third-quarter net income of $7.8 million, a steep drop from the $14.3 million during the same period a year ago.
