Savvis Shares Slide 24 Percent
April 30th, 2008 By: Rich Miller
It’s been a tough morning for Savvis (SVVS). The fallout on Wall Street from last night’s earnings and guidance disappointment has been swift. Savvis shares are down $4.52 to $14.16 a share, a decline of 24 percent from yesterday’s close. Analysts at Lehman Brothers, Jefferies & Co. and Kaufman Bros. all downgraded Savvis this morning after the company lowered its revenue guidance for the year, saying it was taking longer to close sales of managed hosting services.
This morning, the popular news site Slashdot was offline for nearly five hours, along with other sites operated by Sourceforge.net (LNUX). “Some planned downtime from our provider apparently didn’t come back up quite as planned,” wrote Slashdot co-founder Rob “CmdrTaco” Malda. Sourceforge.net’s sites are hosted by Savvis.