Sapient (SAPE) was down 1.5% in preopen Island trading after it warned its second-quarter loss would be 4 to 6 cents a share, excluding charges, on revenue down as much as 28% from the year-ago period. Analysts were expecting the e-business consultant to break even in the second quarter.

The firm attributed the shortfall to the U.S. economic slowdown. Sapient posted a first-quarter loss of 5 cents a share on revenue up 9%, in line with the sharply reduced forecast it gave in March.