News item mentioning VERB Sector Update: Tech S
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Posted On: 09/11/2020 9:11:08 AM
News item mentioning VERB
Sector Update: Tech Stocks Resume Retreat
BY MT Newswires
— 3:58 PM ET 09/10/2020
03:58 PM EDT, 09/10/2020 (MT Newswires) -- Technology stocks extended their Thursday decline, with the SPDR Technology Select Sector ETF sinking 1.9% while the Philadelphia Semiconductor Index was slipping less than 1.2% in late trade.
In company news, Verb Technology Company ( VERB ) rose over 8% after the software-as-a-service company Thursday announced its $5.7 million purchase of privately held SoloFire, issuing a $1.98 million promissory note and 3.2 million of its class B units for the e-commerce platform for the health care industry.
SunPower (SPWR) fell over 9% after the home and commercial solar power services company Thursday slashed its Q4 profit forecast, now looking to earn up to $10 million during the three months ending Dec. 31 compared with its prior outlook expecting between $30 million to $40 million in Q4 net income. It also lowered its Q4 revenue guidance to $330 million to $370 million from an earlier forecast range expecting $1.06 billion to $1.10 billion in revenue.
FuelCell Energy ( FCEL ) plunged 17.5% after the fuel-cell technology firm reported a fiscal Q3 net loss of $0.07 per share, more than halving its $0.18 per share net during the same quarter last year but still missing the Capital IQ consensus expecting a net loss of $0.06 per share for the three months ended July 31.
Among gainers, Virtusa ( VRTU ) climbed almost 25% after the digital engineering firm agreed to a $2 billion buyout offer from Baring Private Equity Asia, which will pay $51.35 in cash for each Virtusa ( VRTU ) share, representing a 27% premium over Wednesday's closing price. The proposed transaction is expected to close during the first half of 2021, subject to regulatory and Virtusa ( VRTU ) shareholder approvals.
Sector Update: Tech Stocks Resume Retreat
BY MT Newswires
— 3:58 PM ET 09/10/2020
03:58 PM EDT, 09/10/2020 (MT Newswires) -- Technology stocks extended their Thursday decline, with the SPDR Technology Select Sector ETF sinking 1.9% while the Philadelphia Semiconductor Index was slipping less than 1.2% in late trade.
In company news, Verb Technology Company ( VERB ) rose over 8% after the software-as-a-service company Thursday announced its $5.7 million purchase of privately held SoloFire, issuing a $1.98 million promissory note and 3.2 million of its class B units for the e-commerce platform for the health care industry.
SunPower (SPWR) fell over 9% after the home and commercial solar power services company Thursday slashed its Q4 profit forecast, now looking to earn up to $10 million during the three months ending Dec. 31 compared with its prior outlook expecting between $30 million to $40 million in Q4 net income. It also lowered its Q4 revenue guidance to $330 million to $370 million from an earlier forecast range expecting $1.06 billion to $1.10 billion in revenue.
FuelCell Energy ( FCEL ) plunged 17.5% after the fuel-cell technology firm reported a fiscal Q3 net loss of $0.07 per share, more than halving its $0.18 per share net during the same quarter last year but still missing the Capital IQ consensus expecting a net loss of $0.06 per share for the three months ended July 31.
Among gainers, Virtusa ( VRTU ) climbed almost 25% after the digital engineering firm agreed to a $2 billion buyout offer from Baring Private Equity Asia, which will pay $51.35 in cash for each Virtusa ( VRTU ) share, representing a 27% premium over Wednesday's closing price. The proposed transaction is expected to close during the first half of 2021, subject to regulatory and Virtusa ( VRTU ) shareholder approvals.
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