Software-maker SAP's stocks, sales plunge
FRANKFURT, Germany - Shares of SAP AG plunged yesterday after the business-software-maker said it saw a sudden drop in business at the end of September as global financial turmoil escalated. "The market developments of the past several weeks have been dramatic and worrying to many businesses," Henning Kagermann, the co-chief executive of the company, said in a statement. The company's headquarters for the Americas is in Newtown Square, Pa. "These concerns triggered a very sudden and unexpected drop in business activity at the end of the quarter," he added. "Unfortunately, SAP was not immune from the economic and financial crisis that has enveloped the markets in the second half of September, causing us to report numbers below our expectations."