STOCKS TELEGRAPH

Tag: SWI

  • SolarWinds Corp. (SWI) Stock Plummets Following Announcement of Completion of Spin-Off Business

    SolarWinds Corp. (SWI) Stock Plummets Following Announcement of Completion of Spin-Off Business

    SolarWinds Corp. (SWI) stock prices were down by a massive 47.37% as of the market closing on July 19th, 2021, bringing the price per share down to USD$8.92 at the end of the trading day. Subsequent premarket fluctuations have seen the stock fall by another 37.00%, bringing it down to USD$10.66.

    Spin-Off Business

    July 20th, 2021 saw the company announce the completion of its previously announced spin-off of the SWI managed service provider (MSP) business into N-able, Inc., a standalone public company that is traded separately. With the completion of the transaction having taken place on July 19th, 2021, the newly listed spin-off company will facilitate the provision of cloud-based software solutions for managed service providers.

    Birth of N-able

    This, in turn, will allow the MSPs to support digital transformation and growth within small and medium-sized enterprises. While N-able will be listed on the New York Stock Exchange under the NABL ticker, SWI will retain control of its Core IT Management business, which will primarily focus on Providing IT infrastructure management software to corporate IT organizations.

    Financial Forecasts

    Following the company’s initial review of its financial performance for the second quarter of 2021, SWI anticipates reporting total revenue ranging from USD$260.8 million to USD$262 million. This forecast accounts of roughly 6% year-over-year growth, including the company’s Core IT Management revenue-generating USD$176 million to USD$177 million, representing a 2% year-over-year increase. GAAP net loss for the second quarter of 2021 is expected to be in the range of USD$10.4 million and USD$11.3 million.

    Private Placement Offering

    July 12th, 2021 saw the company announce having entered into a definitive agreement with various institutional accredited investors in regard to a private placement financing transaction. The transaction is expected to generate roughly USD$225 million before the deduction of expenses related to the offering. As per the agreement, the company will issue a total of 20,623,282 shares of its common stock, with each share being priced at USD$10.91. Having culminated on July 19th, 2021, N-able will diver the net proceeds generated from the offering to SolarWinds before the closing of the distribution. The capital generated is expected to be used in distribution to its stockholders, as well as to pay down existing third-party indebtedness.

    Future Outlook for SWI

    Armed with the influx of capital from the offering having resulted in a healthier balance sheet, SWI is poised to capitalize on the opportunities presented to it and its spin-off business. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate a continued trajectory of success for the company.

  • ‎26 stocks making the biggest moves premarket today

    ‎26 stocks making the biggest moves premarket today

    ‎Mereo BioPharma Group plc (MREO) stock plunged -7.78% to $3.32 in the pre-‎market trading after declaring collaboration and license agreement with Ultragenyx Pharmaceutical ‎Inc. (RARE), for Setrusumab in Osteogenesis Imperfecta.‎

    ‎Naked Brand Group Limited (NASDAQ: NAKD) shares are trading up ‎‎11.45% ‎at ‎‎$0.2044 at the time of writing. Company’s 52-week ranged between $0.07 to $3.70.‎

    ‎Exela Technologies Inc. (XELA) is down more than -9.79% at $0.4128 in pre-market ‎hours Monday December 21, 2020 following the announcement from the firm that it has entered into ‎a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm. The ‎stock had jumped over 26.10% to $0.46 in the last trading session.‎

    ‎Zomedica Corp. (ZOM) tumbled over -5.22% at $0.1959 in pre-market trading today.‎

    Before the trading started on December 21, 2020, BlackBerry Limited (BB) is down -‎‎3.17% to reach $6.73 after releasing financial results for the three months ended November 30, 2020. It ‎has been trading in a 52-week range of $2.70 to $9.69.‎

    ‎General Electric Company (GE), a Specialty Industrial Machinery company, dropped ‎about -6.11% at $10.15 in pre-market trading Monday after announcing expiration and results of its ‎debt tender offers.‎

    ‎Phunware Inc. (PHUN) lost over -10.38% at $0.95 in pre-‎‎market ‎trading ‎Monday ‎December 21, 2020.‎

    ‎American Airlines Group Inc. (AAL) lost over -7.03% at $15.35 in pre-market trading ‎Monday December 21, 2020.‎

    Before the trading started on December 21, 2020, Carnival Corporation & Plc (CCL) is ‎down -9.79% to reach $19.36. It has been trading in a 52-week range of $7.80 to $51.94.‎

    ‎FuelCell Energy Inc. (FCEL) stock moved down -4.3 percent to $8.9 in the pre-‎market trading after declaring that state regulators have improperly rescinded RFP awards for three ‎fuel cell projects previously selected in the Shared Clean Energy Facility program, putting its state high ‎tech manufacturing job growth at risk.‎

    ‎Exicure Inc. (XCUR) stock soared 7.04% to $2.13 in the pre-‎‎market ‎trading. ‎The ‎most ‎recent rating by BMO Capital Markets, on December 18, 2020, is ‎an ‎Outperform.‎

    ‎Genius Brands International Inc. (GNUS), a Entertainment company, rose about ‎‎3.18% at $1.62 in pre-market trading Monday. The firm recently revealed that it has licensed streaming ‎and select video-on-demand rights to the hit family series, The Wubbulous World of Dr. Seuss (20 x ‎‎22’), from The Jim Henson Company on Kartoon Channel!‎

    ‎SolarWinds Corporation (NYSE: SWI) shares are trading ‎up ‎‎6.7% ‎at ‎‎$15.13 ‎at ‎the ‎time of writing. Company’s 52-week ranged between $11.50 ‎to ‎‎$24.34. ‎Analysts ‎have ‎a ‎consensus ‎price target of $26. ‎

    ‎Norwegian Cruise Line Holdings Ltd. (NCLH) lost over -10.01% at $22.66 in pre-‎market trading Monday December 21, 2020 after reporting that it has closed its previously announced ‎private offering of $850 million aggregate principal amount of its 5.875% senior notes due 2026 (the ‎‎“Notes”).‎

    Before the trading started on December 21, 2020, Nokia Corporation (NOK) is down ‎‎-5.25% to reach $3.79. The company recently declared that it has launched 5G services with Polkomtel, ‎operator of the Plus network, in the capital city of Warsaw as well as other major cities in the eastern ‎part of the country. It has been trading in a 52-week range of $2.34 to $5.14.‎

    ‎Corbus Pharmaceuticals Holdings Inc. (CRBP) is up more than 12.0% at $1.68 in pre-‎‎‎‎‎‎‎‎market hours Monday December 21, 2020. The stock had jumped ‎over ‎‎11.11% ‎to ‎‎$1.50 ‎in ‎the ‎last ‎trading session.‎

    ‎Schlumberger Limited (NYSE: SLB) shares are trading down -6.95% at $20.76 at the ‎time of writing. The firm will hold a conference call on January 22, 2021 to discuss the results for the ‎fourth quarter and full year ending December 31, 2020. Company’s 52-week ranged between $11.87 to ‎‎$41.14.‎

    ‎Exxon Mobil Corporation (NYSE: XOM) shares are trading down -5.27% ‎at ‎‎$40.48 ‎at ‎the time of writing. Company’s 52-week ranged between $30.11 to $71.37. Analysts ‎have ‎a ‎consensus ‎price target of $52.‎

    ‎Transocean Ltd. (RIG) is down more than -14.92% at $2.11 in pre-market hours ‎Monday December 21, 2020 after announcing successful court ruling granting its motion for summary ‎judgment and holding internal reorganization did not violate indenture. The stock had dropped over -‎‎3.50% to $2.48 in the last trading session.‎

    ‎Simon Property Group Inc. (SPG) tumbled over -5.07% at $81.1 in pre-market ‎trading today. The firm recently declared a common stock dividend for the fourth quarter 2020.‎
    ‎
    ‎Energy Transfer LP (ET), a Oil & Gas Midstream company, dropped about -‎‎‎‎5.9% ‎at ‎‎$6.38 in pre-market trading Monday.‎

    ‎Cinedigm Corp. (CIDM) stock moved up 4.11 percent to $0.798 in the pre-market ‎trading after revealing the launch of The Bob Ross Channel on the Roku platform.‎

    Before the trading started on December 21, 2020, Coty Inc. (COTY) is down -6.15% ‎to reach $6.56. The company lately reported two additions to its Board of Directors with the ‎appointments of Anna Adeola Makanju and Mariasun Aramburuzabala Larregui. It has been trading in ‎a 52-week range of $2.65 to $13.01.‎

    ‎JPMorgan Chase & Co. (JPM) gained over 2.24% at $121.75 in pre-‎‎‎‎market ‎trading ‎Monday December 21, 2020. ‎

    ‎Apache Corporation (NASDAQ: APA) shares are trading down -11.29% at $13.6 at ‎the time of writing after announcing the donation of more than 64,000 trees to 56 nonprofit partner ‎organizations through the annual Apache Tree Grant Program. Company’s 52-week ranged between ‎‎$3.80 to $33.77. Analysts have a consensus price target of $16.‎