Shares of Rackable Systems(RACK Quote) were among technology's losers Wednesday, plunging 35% after the server and storage company warned that fourth-quarter earnings would be well below expectations.
The company expects to post adjusted earnings of 17 cents to 18 cents a share, with revenue of $105.5 million to $106.8 million. Analysts polled by Thomson First Call expect earnings of 27 cents a share and revenue of $106.1 million. Rackable said it didn't meet its gross margin goals for the quarter. Shares were trading down $11.50 to $20.92.
Blackbaud(BLKB Quote) slid 12% after the software company announced an acquisition and gave a revenue projection that was short of Wall Street's forecast. The company agreed to purchase privately held Target Software and Target Analysis Group for $60 million. The acquisition, financed by a combination of cash and debt, is expected to shave 3 cents to 6 cents off of 2007 earnings. ...
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