VMware Tumbles Most in 4 Years on Forecast: San Francisco Mover
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VMware Inc., the biggest maker of software that enables computers to run multiple operating systems, fell the most since 2008 after forecasting sales that were less than estimates amid cutbacks from corporate customers.
The stock fell as much as 22 percent to $76.33 after the company said first-quarter revenue will be $1.17 billion to $1.19 billion, in a statement yesterday. Analysts anticipated $1.25 billion, the average of projections compiled by Bloomberg. EMC Corp., which owns a majority of VMware, also slumped.