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IT consultant DXC’s stock rocked as cloud weakness leads to big earnings miss and cut in outlook

Por: MarketWatch Business August 03, 2023

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The stock plummeted 29.4% in midday trading, enough to pace the S&P 500’s and New York Stock Exchange’s decliners. It was headed for the lowest close since Nov. 6, 2020, and the biggest one-day selloff since it plunged 30.5% on Aug. 9, 2019. The company reported fiscal first-quarter revenue for the quarter to June 30 late Wednesday that fell 7% to $3.45 billion, to miss the FactSet consensus of $3.56 billion, as global business services... + full article



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