Network Associates (NETA) was down 66% in early trading. After the close Tuesday, the computer security software company warned that it would post a loss of between $130 million to $140 million.
The Street had been expecting a profit of 31 cents per share. The company also said it plans to replace its top officers.
said shares in the company are unlikely to rise in the next few quarters.
slashed its 2000 earnings estimate to 9 cents per share from $1.01, but raised its 2001 outlook to $1.27 from $1.22.