BUZZ-Micro Focus: Capitulation

** Shares (Berlin: DI6.BE - news) in Britain's biggest tech company Micro Focus plunge 43% to 3-yr low and are on track for their worst single day performance ever

** Stock by far the top drag on FTSE 100, shaving more than 12 pts off the UK blue-chip index

** CEO quits as group cut its annual revenue forecast due to lower licence income and problems stemming from its purchase of Hewlett Packard Enterprise assets

** Expects 2018 revenue to fall between 6-9 pct, compared with a previous forecast for a 2-4 pct decline

** Investec (LSE: INVP.L - news) says it remains cautious on the company

** "We still maintain our concerns over top line declines being greater than expected, now into FY19, and the requirement for greater cost reductions than expected, which would further destabilise the top line outlook"

** More than $4.5 billion wiped off Micro Focus's market value

** Early broker calls expected 5-10% downside for shares