Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Wachovia Downgrades Siebel Systems

Wachovia downgrades Siebel Systems (SEBL).

Analyst Kash Rangan says downgrading to underperform from market perform, as the company now sees $75 million in first-quarter license revenues, vs. guidance of $100 million to $120 million.

Also, the company now sees $297 million to $300 million total first-quarter revenue, vs. $325 million to $345 million guidance. The company now sees first-quarter pro forma breakeven to 1 cent earnings per share, vs. 5 cents to 6 cents guidance.

Rangan says poor execution, deal slippage, and seasonality led to shortfall. Due to uncertainty about the company's ability to execute across geographies, verticals, products, and cuts 2005 estimates to $388 million license revenue (from $524 million), $1.3 billion total revenue (from $1.451 billion), and 20 cents earnings per share (from 30 cents).

blog comments powered by Disqus