Updated from 9:29 a.m.

Ariba

(ARBA)

was up 16.2% in late afternoon after posting a second-quarter loss of 20 cents a share, in line with reduced expectations and wider than the loss of 6 cents in the year-ago period. The B2B software company said revenue would be flat to down in coming quarters until IT spending in the marketplace picks up. The company declined to offer further guidance.

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Ariba earlier this month announced it was cutting a third of its workforce and halting plans to merge with

Agile Software

(AGIL)

.