Documentum (DCTM) , a maker of Internet content management products, was down 24.1% at midday after the company late Thursday posted a wider-than-expected first-quarter loss of 40 cents a share. Analysts had already lowered estimates to a loss of 18 cents a share, according to Thomson Financial/First Call.

Documentum said it was cutting 12% of its workforce in an attempt to return to profitability.

This morning,

Robertson Stephens

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downgraded the stock to long-term attractive from buy.