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Diplomat Pharmacy (DPLO) Stock Plummets on Q3 Results, Guidance

NEW YORK (TheStreet) -- Shares of Diplomat Pharmacy (DPLO) were plunging 37.71% to $13.94 on heavy trading volume Thursday morning after reporting lower-than-expected results for the third quarter and cutting its outlook for the full year.

After yesterday's market close, the Flint, MI-based independent specialty pharmacy reported adjusted earnings of 21 cents per share, missing analysts' estimates of 24 cents per share. Revenue rose 25% year-over-year to $1.18 billion but fell short of analysts' projections of $1.26 billion.

Diplomat Pharmacy blamed...