Micro Focus (MFGP) is a software solutions company that was founded in 1976. The business is based in Newbury, Berkshire, England. Micro Focus completed a merger with (HPE) on Sept. 1, 2017 and in celebration of the joining rang the opening bell at the New York Stock Exchange. The combination creates the 7th largest pure-play software company. Valued at $8.8 billion, the deal is a culmination of a three year run off M&A activity.
In a statement, CEO Chris HSU said, "We are bringing together a powerful combination of technology and talent uniquely positioned to drive customer-centered innovation at enterprise scale - enabling organizations to maximize the ROI of existing software investments while embracing the new hybrid model for enterprise IT." Hsu got the honor of ringing the bell on Friday morning.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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