Why Gigamon (GIMO) Stock Is Sinking Today

NEW YORK (TheStreet) -- Shares of Gigamon Inc. (GIMO) are falling -30.69% to $12.60 in early trading on Wednesday after the networking and communication devices company cut its revenue forecast for the 2014 second quarter.

The company is now expecting revenue between $34.5 million and $35 million, down from its previous guidance of between $38 million and $42 million.

Gigamon blamed its outlook reduction on "challenges with closing deals" and is expected to report its second quarter results after the close on July 24.

Must Read: Warren Buffett's 25 Favorite Stocks

GIMO Chart GIMO data by YCharts

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