SAN FRANCISCO – Fusion-io saw its shares plunge more than 24% to $9.83 on Thursday morning, after the maker of corporate data-storage technology products reported quarterly results that included a weak outlook for the current period, and also announced that its CFO was leaving the firm for another opportunity. In it's report Wednesday afternoon, the company said it expects revenue for the current period to be "up slightly" sequentially from the September period, while analysts had been expecting a 34% sequential gain. Fusion-io was downgraded to an underweight rating by J.P. Morgan on Thursday, with analyst Mark Moskowitz citing "the deterioration in the operating estimates" as the main reason for his move. "We recommend investors exit the stock until there is evidence of sustainable improvements in revenue growth, gross margin, and the new management team's execution," he wrote.
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