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SunGard Drops on Warning

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SunGard Data Systems (SDS) - Get ProShares UltraShort S&P500 Report was down 8.6% in late morning after it warned that third-quarter earnings would be just 21 to 22 cents per share, short of the 23 to 26 cents estimated by analysts.

The financial services software company blamed the business disruptions that took place after the Sept. 11 terrorist attacks, saying it expects lower revenue from trading, software licenses and professional services.

SunGard said it is unlikely to make up the shortfall in the fourth quarter.

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