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.”
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Social media raises bank run risk, fueled Silicon Valley Bank’s collapse, paper saysA new academic paper examines the risk of social media on 'distress in banks' and how Twitter conversations amplified the bank run risk ahead of SVB's collapse.
Leer más »
Twitter fueled run on Silicon Valley Bank, new paper findsSocial media-fueled bank runs are a new risk to the financial system, and regulators don't know yet how to manage them.
Leer más »
Who stopped the rescue of Silicon Valley Bank?Transparency and accountability demand that Congress hold more hearings related to the Silicon Valley Bank (SVB) failure, and at least one more is sure to come. Congress especially needs to get to the bottom of exactly which Federal Deposit Insurance Corporation board member – or members – decided…
Leer más »
First Republic Stock plummets 25% as banking trouble deepensShares of First Republic Bank plummeted more than 25% in early trading as the banking crisis continues to ripple through the financial system.
Leer más »
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)
Leer más »
Silicon Valley startups set for ‘bloodbath’ as tech investor money runs dry: reportMany startups face the prospect of raising money at a lower valuation — or not at all.
Leer más »