The downbeat sentiment was largely attributed to the company’s guidance for the upcoming period ending in October. Excluding certain items, the company stated that it expected earnings in a range of $0.31 to $0.32, which falls short of the average expectation of $0.34 by analysts. The lowered guidance has largely been attributed to increased competition as companies like Oracle (ORCL) and SAP AG (SAP) move more aggressively into this cloud computing model.
(Curated by Dennis Moore. Read the complete article here)