Business-to-business stocks were down sharply during Friday's trading, a day after
said it beat analysts' expectations for the first quarter, but
warned of significantly slower revenue growth in the upcoming quarters.
Earlier today Ariba was
downgraded to add from buy by
, and to buy from strong buy by
Deutsche Banc Alex. Brown
. In contrast,
Credit Suisse First Boston
raised Ariba's earnings per share outlook for fiscal 2001, and
J.P. Morgan Chase
also expects higher profits in 2001.
Amid the conflicting outlooks and ratings, investors shied away from B2B stocks as they were down across the board recently. Shares of Ariba fell $8.63, or 19.9%, to $34.75, and
slipped $1.13, or 6.2%, to $7.13 in recent
dropped $3.75, or 15.2%, to $20.94.
was down 53 cents, or 9%, to $5.38, and
fell $2.06, or 9.7%, to $19.31, also on the Nasdaq.