Informatica Falls 29% on Lowered Guidance; Drags Down Sector

After Thursday's closing bell, Informatica INFA, provider of enterprise data integration and data quality software and services, lowered its second-quarter guidance. The company now anticipates quarterly non-GAAP earnings per share (EPS) between $0.27 and $0.28 on revenues between $188 million and $190 million. This compares to analysts' consensus estimates for EPS of $0.37 on revenues of $217.5 million. The stock traded down approximately 29 percent on Friday to around $30.67. Other companies in Informatica's sector also fell on Friday. For the day, enterprise software leader Oracle ORCL was down more than 2 percent and competitor SAP AG SAP had lost more than 5 percent. During the same period, Progress Software PRGS lost a little less than 5 percent, while Tibco Software TIBX was off by almost 7 percent.