BUZZ-Micro Focus: best day in a year after HPE Software Q3

(Fixes headline, first bullet to clarify results from HPE/HPE Software (IOB: 0NJS.IL - news) )

** Micro Focus up 10 pct after Hewlett Packard (NYSE: HPQ - news) Enterprise reports results

** Biggest one-day rise since Sep (Shanghai: 600021.SS - news) 2016 when Hewlett Packard Enterprise agreed to sell its software business to Micro Focus

** HPE Software Q3 revenue down 2 pct YoY with rate of decline improving from -9 pct in 2Q17 with a strong rebound in license revenues

** Sees HPE Software FY revenues in range of $2.89 bln to $2.96 bln (ahead of Citi estimates of $2.80 bln) driven by the decline in lower profitable professional services mix

** Shares (Berlin: DI6.BE - news) had been weak since the trading update in May which highlighted weakness in HPE Software revenue ..On a pro-forma basis, we would expect low-to-mid-single digit consensus upgrades - Citi

** Merger with HPE's software business was completed on Sep 1, 2017

** HPE was formed when the company once known as Hewlett-Packard split into HPE and HP Inc (Frankfurt: 7HP.F - news) in November 2015