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Polycom (PLCM -15.1%) crumbles to levels last seen in '09 following its Q2 report. While results...

Polycom (PLCM -15.1%) crumbles to levels last seen in '09 following its Q2 report. While results beat estimates, the company guided on its earnings call for revenue of $325M-$335M and EPS of $0.06-$0.09, below a consensus of $364.7M and $0.21. Polycom issued a Q1 warning and weak Q2 guidance in April; the company is struggling with soft Euro demand and share losses to Cisco. Wells Fargo is downgrading to Underperform, and is worried about competition from software-centric videoconferencing solutions.
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