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Tag: CRNC

  • Here’s why Cerence Inc. (CRNC) Stock Sinking in Early Trading.

    Cerence Inc. (CRNC) is a leading international mobility world’s moving experiences developer for its consumers. The company is engaged in the production of connected cars, autonomous driving solutions, and EVs. The company utilizes powerful interaction between humans and their cars to connect the customer’s online lives to daily traveling.

    The price of CRNC stock during the early trading on February 7, 2022, was last checked to be $44.1 with a 30.5% decline.

    CRNC: Key Financials

    On February 7, 2022, CRNC released its financial results for the first fiscal quarter of 2022 ended December 31, 2021. Some of the key points are as follows.

    Revenue

    Total revenues in Q1 2022 were recorded to be $94.4 million compared to $93.6 million in the same quarter of 2021. The company observed a $0.78 million increase in revenue over the period of the year. The company missed the estimated revenue which was $95.1 million.

    EPS

    Diluted net income per share in Q1 2022 was reported to be $19 million, or $0.47 compared to $20.9 million or $0.53 in the same quarter of 2021. The company missed the estimated EPS which was $0.51.

    CRNC: Events and Happenings

    On January 19, 2022, CRNC updated about its Executive’s participation at the Baird 2022 Vehicle Technology & Mobility Conference on January 25, 2022. On January 10, 2022, CRNC was informed about the deployment of its conversational AI in NIO’s ES8 full-size SUV. On January 07, 2022, CRNC and VinFast co-reported that the company’s Cloud-Connected Vehicle Digital Twin program was utilized in VinFast’s automobiles.

    On January 06, 2022, CRNC informed that its Executive management participated in the Virtual 24th Annual Needham Growth Conference on January 11, 2022. On January 03, 2022, CRNC reported that its Co-Pilot portfolio had been nominated as an honoree for CES 2022 Innovation Award. On December 23, 2021, CRNC updated about signing the biggest agreement in its history worth $149 million. The company signed a deal with a European automaker and will provide its AI automotive assistant products to the company.

    Conclusion

    CRNC’s stock is down performing in the past six months period by 64%. The company also sink in today’s early trading likely due to the multiple SEC filings of Form 8-K. The company also missed the estimated revenue and EPS target in its first fiscal quarter 2022 report. The company’s Executive management is quite optimistic about the current financial figures.

  • Here is why Cerence Inc. (CRNC) stock had a GOOD Thursday?

    Cerence Inc. (CRNC) shares gained 7.77%  in after-hours on Thursday, July 1, 2021, and closed the day at $117.01 per share. Earlier in the morning session, CRNC’s stock gained 1.74% to close Thursday’s session at $108.57. CRNC shares have risen 159.99% over the last 12 months, and they have moved down 4.77% in the past week. Over the past three months, the stock has gained 16.32%, while over the past six months, it has shed 6.04%.

    Cerence debut on S&P MidCap 400

    Cerence Inc will replace Adtalem Global Education Inc in the S&P MidCap 400effective before the opening of trading on Wednesday, July 7, 2021.

    Boston CIO of the Year

    On June 24, 2021, Cerence ‘s Chief Information Officer, Bridget Collins, was named 2021 Boston CIO of the Year® in the Corporate category, chosen by her CIO peers.

    The CIO of the Year® ORBIE® Awards is the premier technology executive recognition program in the United States.

    Cerence and SiriusXM partnership

    On June 10, 2021, Cerence Inc announced to team up with SiriusXM to bring Cerence’s conversational AI technologyas part of a packaged offering for automakers.

    The two companies will work together to enrich the driver experience by offering natural, conversational access to SiriusXM. The partnership will also better voice technology to more drivers across more OEMs and deliver an easy-to-use and more uniform way.

    Cerence and Pioneer partnership

    On June 08, 2021, Pioneer Corporation and Cerence Inc signed a strategic partnership agreement to develop scalable, secure, AI-powered products and services for the mobility world.

    The agreement will combine the leading-edge technologies of Pioneer and Cerence to utilize the companies’ respective knowledge and technologies to accelerate and develop products and services that enhance mobility experiences for drivers and passengers globally.

    Cerence was awarded to power WISE

    On June 03, 2021, SAIC-GM-Wuling selected Cerence Inc to power WISE(Wuling Interconnected Smart Ecosystem) which is the integration of Internet vehicle and ADAS features, as well as the upgraded generation of WIND (Wuling Indonesian Command).

    WIND was launched in Wuling Almaz in 2019 as the automaker’s first smart model built for a market outside of China.WIND marks a significant milestone as Cerence supports Wuling’s journey of globalization with optimized recognition of the Indonesian language, as well as additional voice-powered features and functionalities.

    Cerence Partnership with CarPay-Diem 

    On May 18, 2021, Cerence Inc announced the integration of the CarPay-Diem fuel payment platform into Cerence Pay. Cerence Pay delivers a secure, contactless payment experience in the car through voice-powered AI, enabling drivers to make key purchases like gas, food and parking through a world-class ecosystem of merchant partners, now including CarPay-Diem fuel retail partners.

    Conclusion

    Well, as of this writing, we have only one news which is its upcoming inauguration on S&P MidCap 400 which may or may not be the reason behind its good performance on Thursday. we hope that it will continue to perform well on the last day of the week.