Stock Watch: Downgrade Sends Entrust Lower

Entrust Technologies, Inc. (Nasdaq: ENTU) fell 4 15/16 to 26 15/16 Tuesday following reports that the stock was downgraded to attractive from buy at Bear, Stearns & Co.

Entrust shares have been battered since last week, when the Plano, Texas-based e-business software maker said results for the second quarter will fall below analysts’ estimates because of delayed orders. Yet President and Chief Executive Officer John Ryan said the problems are temporary.

“The issue here is simply revenue timing, not lost business,” Ryan said.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

E-Commerce Times Channels