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The Boston Globe

Business

Mass. Movers

Progress Software stock plunges as CEO says he is leaving

The departure of Progress Software Corp.’s chief executive (Story, B4) plus its decision to withdraw its fourth-quarter revenue­ forecast dragged down the Bedford company’s stock. Progress warned that sales may slip during the transition to a new CEO and said it won’t complete its share repurchase program by the end of its fiscal year. The stock closed Monday at $18.52, near its 52-week low of $17.01. The 52-week high is $24.76; the shares had reached $31.05 in February 2011.

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