Sodexo Drops After Guidance Cut on US University Business
- Stock suffers biggest intraday decline since March 2018
- Company lowers forecast for full-year organic sales growth
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Sodexo SA shares plunged the most in almost seven years after the French food services company lowered its revenue guidance, citing slower growth at its US university business.
The stock dropped as much as 16% in Paris, the biggest intraday decline since March 2018. Rival catering companies also fell, with London-listed Compass Group Plc sliding as much as 4.1%.