Shock wave from bank failures is hitting software stocks now

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

مصر أخبار أخبار

مصر أحدث الأخبار,مصر عناوين

The failures of Silicon Valley Bank and Signature Bank shook the banking sector last month, and now the reverberations are rippling through software stocks.

Tenable Holdings Ltd. TENB shares were headed for their worst day ever Tuesday after the cybersecurity company cut its guidance in an earnings report delivered after markets closed on Monday — and they were taking other security and software stocks down with them. Analysts put the blame on a slowdown in spending by companies in the banking and finance sectors, a core customer...

“The banking crisis in the aftermath [of] Silicon Valley Bank was highlighted as the primary culprit for deal slippage during the final 2 weeks of March,” Needham analysts wrote Tuesday morning. “Several highly qualified, committed deals were pushed out of [the first quarter] as customers extended their approval cycles.”

“The weakness was focused on verticals such as financials, regional banks, technology, and telecom where the company has a greater concentration of large deals,” William Blair analysts wrote, while maintaining an outperform rating on Tenable shares. “Tenable had larger deals face additional scrutiny as CFOs curtailed new spending or delayed deal closure processes.”

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 3. in EG

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Major central banks cut dollar operations with Fed as market stress easesIn a joint statement on Tuesday, The European Central Bank (ECB), the Bank of Japan (BoJ), the Bank of England (BoE) and the Swiss National Bank (SNB)
مصدر: FXStreetNews - 🏆 14. / 72 اقرأ أكثر »