Razorfish hammered on news of earnings shortfall

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Shares of New York-based Internet agency Razorfish took a hit Friday on company's announcement that third-quarter earnings will decline from the previous quarter because of a larger-than-expected slowdown in its Europeanbusinesses. Razorfish fell 43% Friday to $5 a share at the close, setting a new 52-week low. Razorfish said it expects to earn 1 cent to 4 cents a share in the third quarter, down from 8 cents in the second quarter and 6 cents in third quarter of 1999.

Copyright October 2000, Crain Communications Inc.

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