Shares in Baltimore Technologies fell sharply today as rumours spread that the company was lowering forecasts at an analysts' briefing held in Dublin today, dealers said.
At 12.30 p.m., shares in Baltimore were down 21 per cent to 118p in London, having earlier reached a high of 166 in line with the recovery among technology shares.
Several brokers including CSFB were understood to be cutting estimates following the meeting, dealers reported.
They said Baltimore has talked of a delay to certain products which will affect its first-quarter revenues.
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However, house broker Lehman Brothers was understood to be retaining its current forecasts.