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Ubisoft Plunges After Two Recent Games Fail to Deliver
Ubisoft Entertainment SA plunged the most in six years after the poor performance of two recently released video games forced the company to slash its full-year targets. The stock fell as much as 29% in Paris after Ubisoft cut its forecast for net bookings to about 1.45 billion euros ($1.61 billion) from a previous guidance of 2.19 billion euros. The company also slashed projected operating income to between 20 million and 50 million euros, from a previous target of 480 million euros.