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Article

Cloud Companies Rain on Nasdaq

Cloud companies cast a nasty pall over Wall Street Wednesday when they all seemed to drop simultaneously

Cloud companies cast a nasty pall over Wall Street Wednesday when they all seemed to drop simultaneously.

Reuters said the retreat started when Equinix, the big hosting company, said it had to cut prices to keep long-term customers after it acquired Switch & Data earlier this year and lowered its revenue guidance.

Shares in Citrix, Saavis, Rackspace, NetSuite, VMware, Terremark, Red Hat, Akamai, Salesforce.com, F5, Islion, Teradata, CommVault, Tibco and Radwqare were all badly bruised by the flight.

Some of these names were bid up in the 3Par M&A frenzy although high valuations hurt their chances of making a match.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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