Sabre Lowers Air Distribution Outlook, Stock Gets Crushed

It's not a good look when a company highly dependent on airline distribution forecasts books growth far below previous guidance for the second half of the year.

Sabre's share price was down nearly 40% Thursday after quarterly results came in below estimates and the company had to lower its forecast for the year.

"The operating environment remains challenging and is pressuring air distribution bookings," CEO Kurt Ekert said in prepared remarks. "As a result, the second quarter came in below expectations and we are updating our outlook for the remainder of the