BUZZ-Federal Signal Corp: Biggest ever intraday pct loss

Mon Feb 29, 2016 1:18pm EST
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** Street sweeper and vacuum truck maker's shares down 21.4 pct at $11.89, stock the second-biggest loser on the NYSE

** Stock slips as much as 23.1 pct to over two-year low of $11.63, its biggest ever intraday percentage loss

** Forecasts lower-than-expected 2016 profit as downturn in oil and gas market is expected to result in reduced demand for its products

** Federal Signal also agrees to acquire Joe Johnson Equipment for initial consideration of C$108 mln

** More than 666,000 shares traded hands as of 1:04 p.m. ET, about 3.8x 25-day moving avg

** Up to Friday's close, stock had fallen 9.1 pct in the past 12 months