Avid Says In Light Of The Announced Transaction With STG, Co Is Withdrawing The Guidance For Full Year 2023 That It Provided On May 4, 2023, And The Company Is Cancelling Its Previously Scheduled Conference Call To Discuss Its Second Quarter Earnings
Portfolio Pulse from Happy Mohamed
Avid Technology, Inc. (AVID) has withdrawn its full-year 2023 guidance due to the announced transaction with STG. The company has also cancelled its previously scheduled conference call to discuss its Q2 earnings.
August 09, 2023 | 8:59 pm
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NEGATIVE IMPACT
Avid Technology's withdrawal of its 2023 guidance and cancellation of its Q2 earnings call due to a transaction with STG may cause uncertainty among investors.
The withdrawal of guidance and cancellation of an earnings call are often seen as negative signals by investors, as they suggest potential issues or uncertainty within the company. This could lead to a short-term negative impact on AVID's stock price.
CONFIDENCE 90
IMPORTANCE 80
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