Shares in design and test solutions technology company Keysight Technologies (NYSE: KEYS) were down by almost 17% today at 10 a.m. ET. The decline comes after a disappointing earnings presentation given after the close of trading yesterday. 

There was nothing wrong with the first-quarter earnings report per se, as revenue and earnings came in ahead of management's guidance. However, management's commentary and guidance spooked the market. Management guided toward second-quarter revenue of $1.37 billion to $1.39 billion, compared to market estimates for slightly more than $1.39 billion.

Moreover, CEO Satish Dhanasekaran talked about customers exercising caution in light of the weakening economy, saying, "This was most notable among our largest customers in Commercial Communications, who were impacted by sharp demand decline in consumer electronics and computing segments."

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Source Fool.com