Autonomy shares rocked by cut in profits forecast

first_imgWednesday 6 October 2010 7:40 pm KCS-content Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times “Things have not been coming together as expected,” he said. “It throws into question its longer-term growth potential. I’m guessing the downgrade to consensus will be somewhere in the neighbourhood of six per cent in terms of earnings, and that will extrapolate into 2011 in a higher percentage downgrade.”Goldman Sachs removed the company from its “conviction buy” list, but retained its “buy” rating, saying it believed the stock would be in the “penalty box” in the short to medium term.“Apart from M&A support and prospects of an accretive acquisition, we believe predictability of growth has become more uncertain in the short term,” Goldman said. More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comConnecticut man dies after crashing Harley into live bearnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child Show Comments ▼ whatsapp software firm Autonomy said it would cut its full-year revenue guidance by about three per cent after weaker-than-expected demand, sending its stock sharply lower.Shares in the group, whose meaning-based search software is used by multinationals and governments, plunged as much as 21 per cent to an eight-month low of 1,464p, the largest FTSE 100 faller, after a trading update yesterday. The stock closed at 1,551p, a fall of 16 per cent.Autonomy said it expected full-year revenue growth of about 17 per cent and said its third quarter would meet but not beat its own expectations. Analysts had pencilled in full-year growth of about 21 per cent, according to a Thomson Reuters poll.Chief executive Mike Lynch blamed customer volatility due to the current macroeconomic situation for a cut in the company’s revenue forecast of three per cent.Analyst Bob Liao at Canaccord Genuity, who rates the firm a “hold”, said Autonomy was expected to rebound after one-off events clouded the second quarter, when the group’s margin slipped. whatsapp Autonomy shares rocked by cut in profits forecast Sharelast_img

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