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Forecast drains power from EnerNOC stock

EnerNOC offers demand-response, energy-efficiency, and other services to help foster a “smart’’ power grid. EnerNOC offers demand-response, energy-efficiency, and other services to help foster a “smart’’ power grid. (David Paul Morris/ Bloomberg News/ File 2009)
August 10, 2011

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EnerNOC Inc., which helps utilities and big users of electricity manage power use more efficiently, suffered its biggest decline since February 2008. The Boston company forecast an annual per-share loss of as much as 50 cents, pulling the plug on May 5 guidance for net income of 25 to 50 cents. Five analysts cut their ratings on EnerNOC to “hold’’ from “buy.’’ The stock fell as much as 39 percent in intraday trading, the worst slump since the shares began trading in May 2007.