John Hancock shares tumble, earnings cut

Reuters  (Reuters)  John Hancock Holdings Inc (JHG.

N) and its parent company, Hancock Technology Group, are cutting their 2015 adjusted earnings per share forecast for the year by almost $3 billion to $1.28, according to a statement on Monday.

The company also reported lower quarterly net income for the quarter compared to the year-ago period, to $5.25 billion. 

Hancock said it expects net income to be $3.8 billion for the full year, excluding items. 

The shares fell 1.4 percent to $36.30 in New York.