UPDATE 3-Meritor cuts outlook on rising costs; stock falls


* Sees Q2 EBITDA of $77-$83 mln vs pvs view $85-$95 mln * Expects slightly negative Q2 free cash flow * Raises revenue outlook * Shares plummet 10.5 pct (Adds stock action) DETROIT, March 31 (Reuters) - Commercial truck parts maker Meritor on Thursday reduced its second-quarter earnings outlook, citing rising steel prices and higher-than-expected costs, sending its shares down 10.5 percent. The company, which makes drivetrain, braking and replacement parts for the commercial ...

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