Citrix Systems Inc. (CTXS) announced after the close Tuesday that it plans to spin-off its GoTo family of products into a separate, publicly traded company. A realignment of resources is expected to eliminate about 1,000 full-time and contract roles, excluding the effect of spinning off the GoTo business.
Citrix Systems gapped open lower Wednesday and declined for the bulk of the session. Shares finished down by 7.88 at $70.54, with volume at a 7-month high. The stock dropped to a month and a half low.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.