Shawshank, VA 7/6/12 (StreetBeat) -- Shares of Informatica Corp. (Nasdaq: INFA) crashed more than 30% to $30.23 on Friday morning after the maker of data-integration software lowered its outlook for the second quarter, citing "the changing macroeconomic environment, especially in Europe." The company now expects revenue to come in between $188 million and $190 million, with adjusted earnings in the range of 27-28 cents a share. It had previously expected revenue to be in the range of $210 million to $220 million, with earnings in the 35-37 cents-per-share range.At least three brokers downgraded the stock before Friday's opening bell. "We don't believe this is a product strategy / structural issue but softening demand and a sales team transition will reset estimates and leave few near term catalysts to help support the stock," wrote Aaron Schwartz of Jefferies & Co. in a note to clients, cutting his rating on the shares from buy to hold.
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