"Throughout the third quarter we felt quite positive about our ability to meet our expectations. 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."
Henning Kagermann, Co-CEO of SAP

On the day the DAX fell over 6.5% and the Dow broke below 10,000 SAP missed - see the reaction in the chart below just after 16h when the company made the announcement.

Some are born unlucky. Some achieve unluckiness. And some have unluckiness thrust upon them. But unlike Twelfth Night, from which these lines are inspired, there is not much of a comedic subplot to entertain SAP or its owners.

Or many others for that matter.

Exhibit 1: SAP today with reaction to its 3rd Q announcement at 16h plus a couple of minutes


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