Xyratex Lowers FQ3 Revenue Forecast

Xyratex Ltd XRTX cut its revenue forecast for fiscal third quarter. Xyratex expects FQ3 revenue of $271 million to $276 million, versus its earlier forecast of $313 million to $373 million. Xyratex is expected to report its FQ3 results on October 2. Xyratex shares tumbled 16.85% to $8.93 in after-hours trading.