Internet consulting firm Sapient (SAPE) was down 33.6% in preopen Island trading after warning late Thursday that its unaudited fourth-quarter results are coming in at 10 cents per share, compared with the First Call/Thomson Financial estimate of 12 cents.

The company cited lower spending by both large customers and dot-coms.

Credit Suisse First Boston

lowered its 2001 earnings estimate to 50 cents per share from 61 cents and cut its 12-month target on the stock to $18 from $40.