Shares of Macromedia are down nearly 30 percent today after the software maker yesterday evening announced that third quarter revenues will fall short by as much as 20 percent this quarter. Macromedia said it expects revenues to come in between US$70 and $75 million, down from estimates of about $85 million, which will force the company to report a loss. Macromedia blamed “tough economic conditions” for the shortfall. Rival Adobe will announce its earnings after the market closes today.