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Globant (GLOB) Stock Slumps on Downbeat Q3 Guidance

NEW YORK (TheStreet) -- Shares of Globant (GLOB) were slipping mid-afternoon Thursday on heavy trading volume after the company posted solid 2016 second quarter results, but gave a weak outlook.

After yesterday's closing bell, the Luxembourg-based information technology company said it sees earnings per share of 27 cents to 31 cents on revenue of $80 million to $82 million for the third quarter.

Analysts are modeling earnings of 32 cents per share on revenue of $79.8 million for the current period.

For the second quarter, the company reported adjusted earnings of 29...