Stock Watch: BindView Plummets on Poor Outlook

BindView Development Corp. (Nasdaq: BVEW) was down 15 9/16 to 10 in early trading Tuesday, a decline of more than 60 percent. The company, which makes risk-management software for e-business and enterprise applications, said it expects to report a first-quarter loss of between 2 and 4 cents a share, before restructuring and acquisition-related charges.

BindView blamed the lower-than-expected results on a “general softness” in international operations and longer sales cycle because of the introduction of two new product lines.

Wire reports said that Merrill Lynch downgraded the stock’s near-term rating to accumulate from buy and cut the 12-to-18 month price target to $30 from $35.

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