It’s like a broken record, but Toshiba continues to lose more of its market value, marking the third consecutive day of heave losses for the company. Close to 3,000 voices in Sentifi financial crowd are discussing the status quo and the prospects of the Japanese conglomerate, so join the conversation and stay up-to-date with the crowd intelligence.
Toshiba Corp.: Shares plummet more than 19 percent
Bad news upon bad news, and now Toshiba shares don’t seem to stop free-falling anytime soon. All the while, Toshiba’s bond yields have reportedly risen, with reason being the rising cost of insuring against its debt as the company is facing a multi-billion dollar write-down stemmed from higher-than-projected costs for its nuclear business in the U.S.
Mobileye NV: Shares rise on new partnership
Israel technology company Mobileye, which develops vision-based advanced driver assistance systems, has entered into a strategic partnership with HERE, a mapping company co-owned by Audi, BMW and Daimler. Mobileye shares jumped almost 10 percent following the news. The partnership will allow two companies to take advantage of each other’s technology and data to developer autonomous driving technologies for automakers.
Cempra: Stock plummets after FDA’s disapproval
Top themes and market attention on:
The U.S. Food and Drug Administration has rejected the company’s new antibiotic with a demand for a large new safety study before reconsidering its position. The company then sent out a warning that any future label “will carefully restrict its use, which will damage its market potential.” Investors didn’t react well to the news, leading to a plunge of 57.38 percent of its stock, effectively wiping out more than half of its $319 million market cap.
Network Rail: Commuters face delays and disruption
The service of Network Rail encountered some hiccups as the company is working on engineering works, which is part of larger re-signalling works which will see an extra platform created at Cardiff Central. The company warned of more disruption to come, but promised to do anything it can to reduce it.
JMC Projects: Stocks rally after orders win
Indian engineering and construction services company JMC Projects saw its stock rally 15 percent after securing new orders worth over Rs 1,457 crore (approximately $219 million). CEO and Dy Managing Director S. K. Tripathi said: “In the past few quarters, we have successfully increased our presence in government projects. It would enhance our growth sustainability going forward.”
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