Tyco Fell 30% Last Week

Tyco

(TYC)

was down for the week after the company said it was abandoning its plan to split up. The stock fell over 30% for the week as investor fear over the company's management decisions sparked massive sell-offs. In January, Tyco said the break-up plan would unlock "tens of billions of dollars of shareholder value," but management said this week that the break-up was a mistake. The news came as Tyco posted a second-quarter loss of $1.9 billion, including a $3.2 billion charge for scrapping the break-up plan, ending its string of 40 consecutive quarters of earnings improvement.