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

Saba Declines 18% After Delaying Earnings: San Francisco Mover

Saba Software Inc., a maker of Internet-based software for training and Web conferencing, tumbled the most since 2006 after an internal accounting review delayed the release of its third-quarter earnings.

Saba needs more time to check the accounting of its internal transactions, the Redwood City, California-based company said today in a statement. The company had previously planned to release earnings today after the close of trading. Saba didn’t give a date it expects the review to be completed.

While it’s hard to tell how serious the matter is, investors may be concerned that the review could escalate into a Securities and Exchange Commission probe, said Mark Schappel, an analyst at Benchmark Co. in New York. The shares have climbed 26 percent this year as Saba benefited from a shift to cloud computing, which delivers software over the Internet.

“Sometimes these things turn into not a big deal, and sometimes they can drag out to a full-blown SEC investigation,” said Schappel, who has a buy recommendation on the stock. “That’s the issue here and that’s why the stock is selling off on so little news.”

The shares dropped 18 percent to $9.94 at the close in New York, the biggest decline since June 2006.

Roy Lobo, Saba’s vice president of investor relations, didn’t return a call seeking comment.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.