Business intelligence software vendors continue to have a rough time: 5 days after Qlik (QLIK -0.5%) was clobbered thanks to an FQ3 miss, the same is happening to Microstrategy (MSTR -11.8%) and Actuate (BIRT -13.9%) following their Q3 misses (I, II). Actuate, which noted European sales are weak, has received a downgrade to Neutral from Roth. Are macro issues solely to blame for the misses, or is competition also a factor? SPLK -2.8%. TDC -1.1%. INFA -1.7%.