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Why Micro Focus International Stock Was Slammed Thursday

TheMotleyFool

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Why Micro Focus International Stock Was Slammed ThursdayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Shares of infrastructure software company Micro Focus International (NYSE: MFGP) were slammed on Thursday, declining about 32% as of 11:50 a.m. EDT.

The tech stock's decline comes after the company updated its guidance for fiscal year 2019, which ends on Oct. 31. Micro Focus lowered its outlook for revenue during the period.

Image source: Getty Images.

Source Fool.com

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