Friday, 7 Aug 2020

Stock Alert: Cambium Networks’ Stock Up 27% In Premarket On Upbeat Q2 Guidance

Slack acquires SaaS startup Rimeto

  • Slack is acquiring software as a service company Rimeto, the company announced Wednesday.
  • Rimeto, which has raised $10 million in venture funding, builds a detailed employee dictionary for companies.
  • Slack did not disclose the terms of the deal.

Slack has acquired software as a service company Rimeto, the company announced Wednesday. Slack did not disclose the terms of the deal.

Rimeto, which has raised $10 million in venture funding, builds a detailed employee dictionary for companies. That allows employers and fellow employees to see employees' skills, experience and current projects.  

Slack said the acquisition will help its users fell more "connected," especially as several offices continue to work at home during the Covid-19 pandemic. 

"Rimeto's advanced profile and directory features will be integrated into Slack directly, but we will also continue to offer Rimeto as a standalone product and support their existing enterprise customers," Slack CEO Stewart Butterfield said in a release. 

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Salzgitter Q2 Result To Be In Negative Territory – Quick Facts

At the annual general meeting, Heinz Jörg Fuhrmann, Chairman of the Executive Board of Salzgitter AG (SZGPF.PK,SZGPY.PK) said the Group is now able to deliver results close to breakeven, also under more unfavorable economic conditions. However, he noted that the result of the second quarter of 2020 will clearly be in negative territory despite rigorous countermeasures.

In view of the negative impact of the Corona crisis on the performance of the Salzgitter Group, the Executive Board and the Supervisory Board do not consider it appropriate to distribute dividend for fiscal 2019.

“Our overriding aim is not to have to depend on additional equity and/or debt capital measures for as long as we can. From today’s standpoint, we would only need a capital injection in the worst case scenario. We do not believe this to be the case at the moment,” Heinz Jörg Fuhrmann said.

Some Alberta pharmacies are testing for coronavirus, but you’ll have to call around

Albertans can now head to one of 20 local pharmacies to be tested for the coronavirus, but you’ll have to phone around to find a location that’s offering testing.

Brazilian homebuilder Lavvi files for IPO – filing

SAO PAULO, July 8 (Reuters) – Brazilian upscale homebuilder Lavvi Empreendimentos Imobiliários SA has filed for an initial public offering, its shareholder Cyrela Brazil Realty said in a filing late on Tuesday.

Cyrela will sell part of its 45% stake in the company, but Lavvi will also sell new shares and raise cash. (Reporting by Tatiana Bautzer Editing by Chizu Nomiyama)

VAT TAX CUT: Rishi Sunak cuts VAT from 20% to 5% for entertainment and hospitality sectors

The cut will last for six months from July 15 until January 12 next year. The Chancellor made the announcement as he unveiled his plans to boost the economy post-coronavirus lockdown in the House of Commons today.

More to follow.

This is a breaking news story, please refresh the page for updates.

Denver police investigating woman’s death as homicide – The Denver Post

Denver police are looking into a woman’s death in the 2500 block of W. 8th Avenue.

On Tuesday morning, police tweeted about an “outdoor death investigation” and provided an update on Wednesday clarifying that they consider the death a homicide.

No arrests had been made as of Wednesday morning, police said, and no other information was available.

Police ask that if you have any information regarding the woman’s death, to call 720-913-STOP.

KKR to buy insurer Global Atlantic

July 8 (Reuters) – Private equity firm KKR & Co Inc has agreed to buy retirement and life insurance company Global Atlantic Financial Group, the companies said on Wednesday.

KKR will pay Global Atlantic shareholders an amount equal to the privately held company’s book value, which as of March 31 was about $4.4 billion.

Global Atlantic serves more than 2 million policyholders through its retirement and life insurance products.

The transaction is expected to close in early 2021. (Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel)

US-Mexico summit: AMLO under fire for plan to meet Trump

Mexico’s president is accused of selling out as he prepares to meet Donald Trump at the White House.

Mexican President Andres Manuel Lopez Obrador is meeting with US President Donald Trump this week at the invitation of the White House.

But the summit in Washington later on Wednesday between the US and Mexican presidents is already provoking a mixture of anger and bewilderment in Mexico.

Al Jazeera’s Manuel Rapalo reports from Mexico City.

Stock Alert: Cambium Networks’ Stock Up 27% In Premarket On Upbeat Q2 Guidance

Shares of Cambium Networks Corp. (CMBM) are rising over 27% in pre-market today, after the company announced that it now sees Q2 revenues and net income above high-end of its previous outlook.

Cambium Networks now expects Q2 GAAP revenues of about $61 million, above the high-end of the previous outlook of $51-$56 million provided on May 12, 2020. Six Wall Street analysts have a consensus revenue estimate of $53.13 million for the quarter.

The increased outlook reflects better-than-anticipated demand for both fixed wireless broadband products and cloud powered enterprise Wi-Fi solutions. The higher demand is primarily due to service providers scaling networks due to requests for increased capacity and better than anticipated field deployments.

Net income for the second quarter is expected to be above the high-end of the previous GAAP and non-GAAP ranges.

The stock has been trading in the range of $3.57 – $11.75 for the past one year, and closed Tuesday’s trade at $7.52, down 39 cents or 4.93%. Currently, CMBM is trading at $9.60, up $2.08 or 27.66% in the pre-market session.

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