Commerce One Cuts 2nd-Quarter Forecast
Commerce One Inc. cut its quarterly revenue forecast for the second time, but shares of the troubled business-to-business software firm soared 37% on news of a timely investment from SAP, Europe’s largest software company.
SAP said it would invest an additional $225 million in Commerce One, raising the German software company’s stake in the company to 20%.
Shares of Pleasanton, Calif.-based Commerce One jumped $1.58 to $5.84 on Nasdaq.
Commerce One cut its second-quarter revenue forecast to a range of $100 million to $120 million--25% to 38% below Wall Street’s already lowered expectations.
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