On this episode of Stock Movers:
- iRobot (IRBT) shares plunge after the company that revolutionized robot vacuum cleaners in the early 2000s with its Roomba model, filed for bankruptcy and proposed handing over control to its main Chinese supplier.
- ServiceNow (NOW) shares are down after news that the company is near an agreement to buy cybersecurity startup Armis in a tie-up that could be valued at up to $7 billion, according to unidentified people familiar with the talks in a report by Bloomberg.
- Costco (COST) shares slip after after Roth Capital Partners analyst William Kirk cut his recommendation on the club retailer to sell from neutral. Despite 1Q EPS beating estimates last week, Kirk sees several underlying metrics that are “concerning.” Renewal rates are fading. Paid members have slowed, possibly negative q/q (adjusted for openings.) Comparable-store traffic is decelerating on a year-over-year basis.
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