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Embraer (ERJ) Stock Slides on Q2 Loss After Probe Provision

NEW YORK (TheStreet) -- Shares of Embraer (ERJ) are down 12.59% to $18.53 this afternoon on heavy trading volume after the company posted a surprise loss for the 2016 second quarter this morning due to a provision set aside for a U.S. probe settlement.

Almost 3.5 million shares of the stock have traded so far today, vs. its average of 976,000 per day.

Before Friday's market open, Embraer reported a loss of $99.4 million for the quarter after setting aside $200 million in connection to a U.S. probe under the Foreign Corrupt Practices act.

The company is talking to U.S. authorities about...