Agile Software

(AGIL)

was down 13.8% in midafternoon despite an upbeat second-quarter earnings report. Investors were apparently concerned that revenue growth slowed from the first quarter. The company, whose software is used to manage supply chains, said revenue grew 28% from the first quarter to the second, down from a 46% growth rate from the fourth quarter to the first. The company said it lost 1 cent a share, beating the Street's estimate of a 2 cent loss.

Chase H&Q

reiterated its buy rating.