Shares of VitalStream Holdings Inc., which provides products and services for transmitting digital media over the Internet, fell Monday after the company forecast a significant reduction in revenue from its largest customer MySpace beginning in the fourth quarter.
Irvine, Calif.-based VitalStream's stock fell 43 cents, or 6.1 percent, to $6.57 in afternoon trading on the Nasdaq. Shares have traded between $3.36 and $13.70 in the past 52 weeks. VitalStream said News Corp.'s MySpace plans to develop its own in-house media streaming technology. The popular social networking site made up 31 percent of VitalStream's third-quarter revenue, the company said.
Monday, October 9
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