Software Firms Brace for 'Spending Storm'

With yet more clouds gathering over the global economy, software firms are facing a "category 5 spending storm," according to analysts who lowered their estimates on some of the sector's key players Wednesday.

Virtualization pioneer VMware (VMW Quote) and security giant Symantec (SYMC Quote) are just two of the big-name vendors sailing into choppy waters, warns Jefferies analyst Katherine Egbert.

VMware, which was the darling of the tech sector when it completed its $1.7 billion IPO just over a year ago, now joins other firms scrambling for a share of the sluggish software market. ...