UPDATE 1-Midas sees third-quarter loss; shares hit new low

Newswire

(Recasts, adds details) ITASCA, Ill., Sept. 23 (Reuters) - Automotive services company Midas Inc. said on Monday its chief executive has quit and it will swing to a loss in the third quarter due to higher medical claims, severance expenses and declining sales in its wholesale parts distribution business. Shares of Midas, which does car oil changes, air conditioning repairs and wheel alignment, tumbled 17 percent in morning New York Stock Exchange trade, where they were the worst ...

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