Compuware Shrs Plunge On Big FY Q2 Revenue Miss

Compuware (CPWR) shares are getting clocked today after the company said revenue for its fiscal second quarter ended September totaled about $268 million, well short of the Street consensus of $306 million. The company sees profits of 8 cents a share; the Street had expected 13 cents. In a statement , COO Bob Paul said that “the current economic volatility has certainly extended buying cycles for businesses around the globe and unfortunately had a negative impact on the quarter.” Paul said the company is not changing its guidance for the full year. (Which a skeptic might say only sets them up for another estimate cut down the road.) CPWR today is down $1.31, or 17.3%, to $6.26. (link)