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VeriFone Slides After Cutting 2016 Earnings, Sales Forecasts

  • Profit will be $1.64 to $1.65 a share. Previous outlook: $1.85
  • ‘Difficult but temporary’ market, EMV issues, CEO Galant Says

VeriFone Systems Inc., one of the world’s largest makers of payment-terminal hardware, tumbled in late trading after cutting its full-year profit and sales forecasts for a second straight quarter.

Fiscal 2016 earnings will be $1.64 to $1.65 a share, down from a June forecast of $1.85, San Jose, California-based VeriFone said Thursday in a statement. Sales will be $2 billion...