Xyratex slips on disappointing Q3 and lackluster Q4 guidance
Shares of Xyratex Ltd (Nasdaq: XRTX) are losing ground after the provider of enterprise class data storage subsystems posted fiscal third-quarter results after Tuesday’s close below the consensus on Wall Street. Adding to the glum, the company issued also issued fourth-quarter guidance below analysts’ estimates.
“As we enter our fourth quarter and near term planning, we do so with some caution due to the current uncertainty in the global economy,” Steve Barber, CEO of Xyratex., said in a statement.
Shares slipped 10%, or $1.13, to $10 in pre-market trading. For detailed price information and news stories on Xyratex, click on XRTX.
