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BUZZ-HSS: worst day ever for UK tool firm after warning on FY

Reuters - UK Focus

** Tool & equipment hire co HSS poised for biggest one-day drop in short history as a listed co after saying FY earnings expected to be below market expectations

** Variable market conditions - while July in line with management expectations, trading softer in August

** JPMorgan (LSE: JPIU.L - news) lowers its adjusted EBITDA estimate by 8% to £75.1 mln vs £81.5 mln in 2015 (flags consensus was £82.2 mln); cuts TP to 180p vs 240p

** Stock slides 36%, wiping $112.3 mln from market value; by far & away top faller on FTSE Small Cap index, & second-most actively traded stock on index; stock now trading at 83p vs Feb IPO price of 210p (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)