about 5 years ago • 1 min
⚡ Got time for a whistle-stop tour through a couple of Thursday’s biggest markets movers?
Thought you might 😝 Medtech firm ConvaTec’s stock is down 21% – and software company WANdisco’s is up 23%.
😷 ConvaTec’s surprise profit warning on Thursday sent its shares plunging. Investors are adjusting to a new normal of falling profits ahead as the colostomy bag specialist piles on new costs in order to turn around its business within three years.
The stock’s drop may tempt other investors or acquirers seeking a bargain 🎣 It’s certainly en vogue: rival Smith & Nephew is reportedly considering a $3 billion acquisition (although it could now potentially spend that money on buying ConvaTec instead), and Johnson & Johnson announced a similar-sized health deal this week.
Anglo-American software company WANdisco said on Thursday it had raised a fresh $17.5 million via subscription shares – at a decent premium to Wednesday’s stock price. Strong demand from existing investors for the special shares likely helped boost demand from everyone for its ordinary stock.
The company also announced an upgraded tech partnership with Amazon Web Services which, coupled with fresh capital, should place it well for future growth ☁️
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