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Computer Sciences Slumps on Nixed Sale Plans
Shares of Computer Sciences (CSC Quote) plunged on Friday after it announced it was no longer pursuing a sale of its company, and would instead buy up to $2 billion of its stock.
The company also said that the Securities and Exchange Commission requested information related to its stock options practices. CSC said it would comply with the request.
Investors fled the stock, sending it down 11.2%, or $6.23, to $49.65 in midday trading. ...
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