Talk about coming on a little late. Several analysts have downgraded
this morning after the company said yesterday that fourth-quarter revenue would fall short of expectations and announced the resignation of CEO Rob Wrubel.
Morgan Stanley Dean Witter
all cut ratings on the company.
However, the biggest head-scratcher has to be Goldman Sachs, which removed the stock from its recommended list this morning. The stock was already trading below $5 in preopen trading, off a cool 96% from its 52-week high.
The company said yesterday it expects a fourth-quarter loss of 50 cents a share, wider than the 33-cent loss originally estimated by the eight-analyst
First Call/Thomson Financial