Veritas Software Slid 15% Last Week
Veritas Software
(VRTS) - Get Report
shed 15% last week in the wake of the company's gloomy forecast for the second quarter. One analyst downgraded the company, while others lowered their estimates but suggested now might be a good time for investors to buy the stock. The second-quarter outlook overshadowed the company's first-quarter results, which beat earnings and revenue estimates. Veritas said second-quarter revenue will come in lower to flat sequentially and said it expects a sequential decline in earnings.
