Teradata shares are trading lower after the company reported mixed Q2 results, with better-than-expected adjusted EPS but a miss on sales. Additionally, Teradata announced a restructuring plan that will reduce its global workforce by approximately 9% to 10%. JMP Securities downgraded the stock from Market Outperform to Market Perform.
Portfolio Pulse from Benzinga Newsdesk
Teradata shares are trading lower after the company reported mixed Q2 results, with better-than-expected adjusted EPS but a miss on sales. Additionally, Teradata announced a restructuring plan that will reduce its global workforce by approximately 9% to 10%. JMP Securities downgraded the stock from Market Outperform to Market Perform.
August 06, 2024 | 10:14 am
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Teradata shares are trading lower due to mixed Q2 results, a restructuring plan reducing global workforce by 9-10%, and a downgrade by JMP Securities.
The mixed Q2 results, particularly the miss on sales, combined with the announcement of a significant workforce reduction and a downgrade by JMP Securities, are likely to negatively impact investor sentiment and the stock price in the short term.
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