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CA Slashes Profit Forecast
CA (CA Quote) will miss its top- and bottom-line targets by a wide margin in the fourth quarter, largely because it changed the revenue-recognition practices at companies it recently bought.
"Our results for the quarter were not in line with our expectations," John Swainson, the president and CEO of the business software company, said Tuesday.
The news sparked a modest selloff. In recent trading, shares of CA were off 68 cents, or 2.7%, to $24.83. ...
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