SoftwareOne Shares Tumble to Record Low After Guidance Cut
- Swiss company’s shares fall almost 40% after fresh outlook cut
- Veteran takes helm as CEO leaves after little more than a year
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SoftwareOne Holding AG shares plunged almost 40% after the Swiss company cut guidance for a second time in three months and reported lower-than-expected revenue.
The drop erased about 800 million Swiss francs ($925 million) of market value, with investors also unsettled by the departure of Chief Executive Officer Brian Duffy, little more than a year after he joined the firm.