For the first quarter, VMware said it expects sales between $1.17 billion and $1.19 billion, below analysts' forecast of $1.25 billion. VMware also is looking for fiscal 2013 revenue of $5.23 billion to $5.35 billion, well below Wall Street's prediction of $5.42 billion.
Investors were less than impressed with the results, pushing VMware's shares down 18.67% to $79.96.
VMware's parent company EMC (EMC - Get Report) was also off in premarket trading after reporting its own fourth-quarter results. The storage giant edged past Wall Street's estimates, although its shares tumbled on weaker-than-expected guidance.EMC shares slipped 5.56% to $23.8 before market open. Yahoo! (YHOO - Get Report), however, was a big gainer, rising 3.05% to $20.93 following the company's better-than-expected fourth-quarter results on Monday. The Sunnyvale, Calif.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 767,745. Facebook (FB - Get Report), which reports its fourth-quarter results on Wednesday, dipped 0.49% to $32.31 on share volume of 739,092. Research In Motion (RIMM) which unveils its eagerly anticipated BlackBerry 10 technology on Wednesday, gained 1.05% to reach $16.35 on share volume of 182,254. Shares of Amazon (AMZN - Get Report), on deck to report its fourth-quarter results after market close, crept up 0.53% to $277.50 in premarket trading. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts