Deals
BMC Software Drops After Profit Forecast Misses: Houston Mover
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BMC Software Inc., a maker of programs that help companies update servers and personal computers, fell after forecasting fiscal 2013 profit that missed analysts’ estimates, a sign it’s struggling to clinch big contracts.
The shares declined 6.2 percent to $41.71 at the close in New York, the biggest decline since October 2011. The Houston-based company said yesterday that profit excluding some items will be $3.35 to $3.45 a share for fiscal 2013, which ends in March. That’s less than BMC’s prior forecast of $3.49 to $3.59 and trails analysts’ average $3.56 projection, according to data compiled by Bloomberg.