NEW YORK, NY--(Marketwire -07/10/12)- Both the Dow Jones and S&P 500 fell roughly 1 percent Friday after the Labour Department's report showed job growth in the U.S. fell short of analyst' expectations. Additionally shares of major tech companies in the S&P 500 fell sharply after software company, Informatica, lowered its second quarter earnings due to a poor European outlook. Five Star Equities examines the outlook for companies in the Technology Sector and provides equity research on Red Hat, Inc. (RHT) and Teradata Corporation (TDC).
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"I am disappointed that we fell well short of our own expectations in the second quarter of 2012," Informatica's Chief Executive Sohaib Abbasi said in a statement. "Clearly, we did not adapt as rapidly as we should have to the changing macroeconomic environment, especially in Europe." The company's poor European outlook and subsequent drop in share price triggered a domino effect amongst other tech companies who are seen as vulnerable to an economic slowdown in Europe.
Technology was the worst performing sector out of the 10 in the S&P 500 Index as Autodesk, Citrix Systems, EMC, F5 Networks, JDS Uniphase, Red Hat, Salesforce.com and Teradata all saw shares fall 5 percent or more.
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Red Hat is the world's leading provider of open source software solutions, taking a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. The company recently reported that since 2011, the Red Hat Certified Cloud Provider Program has expanded by more than double to include certified partners across North America, Europe, Asia and Latin America.
Teradata Corporation is the world's leading analytic data solutions Company focused on integrated data warehousing, big data analytics, and business applications. The company recently reported that it will release second quarter 2012 earnings before market open on August 2, 2012. Shares of Teradata fell over 10 percent last Friday.
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