UPDATE 4-Paccar reports drop in net, cuts industry outlook


* Q2 loss 1 ct/share ex-items; Wall St view EPS 4 cts * Sales down 55 percent at $1.85 billion * Says challenging market conditions continuing * Shares fall as much as 12 percent (Adds comments from conference call, updates shares) By James B. Kelleher CHICAGO, July 28 (Reuters) - Paccar Inc said on Tuesday that quarterly earnings plunged more than 90 percent as a weak freight market walloped demand for its trucks and forced it to idle some plants. The company warned that ...

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