Digital River Inc. (DRIV) announced Monday morning that it was notified by Symantec Corp. (SYMC) that Symantec will not extend its existing e-commerce agreement with the company, which expires on June 30, 2010.
Digital River expects to report third quarter EPS of $0.38 to $0.41, with revenues between $96.5 million and $98.5 million.
Digital River gapped open sharply lower Monday morning, but traded in a range for the bulk of the session. Shares finished down by $13.97 at $26.45 on the highest volume of the year. The stock sank to a 7-month low.
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