Parametric (PMTC), which develops product lifecycle management software, is falling significantly after the company provided Q2 earnings guidance of 26c-28c, versus the consensus estimate of 34c. The company's revenue was also lower than expected. "The primary issue in Q2 was that a large European deal did not close in the quarter," said Parametric CEO Jim Heppelmann. "Unexpected dynamics" at the company, which is involved in a "change of control situation...disrupted closure of the deal," the CEO added. The deal is at risk, Heppelmann said. In mid-morning trading, Parametric dropped $5.48, or 20.14%, to $21.72. Parametric peers also declined following the news, with Autodesk (ADSK) and ANSYS (ANSS) both in the red in mid-morning trading.
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