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VMware shares still struggling due to disappointing third quarter sales forecast
By Ellen Tate | July 24, 2008
VMware, Inc. (Public, NYSE:VMW) “a virtualization software provider” shares are still in the shock and still struggling due to the announcement of the third quarter sales forecast. The share opened today $36.70 and closed even lower at about $35.00.
On last Tuesday, VMware announced its second-quarter profit and showed that it’s jumped 53 % which matching Wall Street’s expectations. But the forecast of the third-quarter sales which is between $462 million and $468 million was way below the $497.3 million that was projected.
VMware became public last August and raised more than one billion dollars in its initial offering; its shares were about $57.71 at that time, then it reached its peak on October 31, 2007 to reach $124.83 to see them now at a price of about $35.00.
Topics: News, VMware, Virtualization |