Agile forecasts loss, weak sales
A day after its high-profile merger went up in smoke, the software developer warns it will miss fourth-quarter estimates.
Agile Software jumped on the profit-warning bandwagon Tuesday, telling Wall Street it will post a loss in its fourth quarter on weaker-than-expected sales.
It's been a rough 24 hours for Agile considering it and Ariba announced Monday that they nixed their plans to merge in a deal that was valued at more than $2.5 billion in late January.
Last quarter, Agile posted a profit of 1 cent a share on sales of $25 million.
Six of the nine analysts following the stock rate it a "buy."