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OFFON

NUANCE COMMUNICATIONS, INC.

(NUAN)
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S&P 500, Dow ease from record levels; earnings, data in focus

04/12/2021 | 10:11am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Tesla rises after Canaccord Genuity upgrade

* Alibaba shrugs off $2.75 bln antitrust fine, shares jump

* Big bank earnings to kick off from Wednesday

* Indexes down: Dow 0.13%, S&P 0.10%, Nasdaq 0.45%

April 12 (Reuters) - The S&P 500 and the Dow Jones indexes retreated from record levels on Monday, as investors geared up for the start of the corporate reporting season and a key inflation report later this week.

A pullback in the benchmark 10-year bond yield from 14-month highs in April eased worries about higher borrowing costs, helping richly valued technology stocks gain ground and drive the S&P 500 and the Dow to record levels.

"Even with stocks at record highs, we expect further upside thanks to supportive fiscal and monetary policy, improving economic data and faster COVID-19 vaccination rates," said Tom Mantione, managing director, UBS Private Wealth Management in Connecticut.

The S&P 500 technology sector fell the most among the 11 major S&P 500 sectors, while energy stocks rose 0.9% on the back of higher oil prices.

U.S. consumer price data for March and $271 billion of U.S. Treasury auction this week could end a recent lull in the bond market, reigniting a rise in yields that worried investors in the first quarter.

Federal Reserve Chair Jerome Powell on Sunday said the U.S. economy is at an "inflection point" with expectations that growth will pick up speed in the months ahead, but also risks if a hasty reopening leads to a continued increase in coronavirus cases.

Results from big U.S. banks Goldman Sachs, JPMorgan and Wells Fargo will pour in on Wednesday, kicking off the first-quarter earnings season where investors will look for reasons to support a stock market at all-time highs.

S&P 500 earnings are expected to have jumped 25% in the quarter from a year ago, according to Refinitiv IBES data, the biggest quarterly gain since 2018, when tax cuts under former President Donald Trump drove a surge in profit growth.

At 9:48 a.m. ET the Dow Jones Industrial Average was down 42.80 points, or 0.13%, at 33,757.80, the S&P 500 was down 4.33 points, or 0.10%, at 4,124.47 and the Nasdaq Composite was down 62.12 points, or 0.45%, at 13,838.07. were down 47 points, or 0.34%

Tesla Inc rose 2.7% after Canaccord Genuity upgraded the electric-car maker's shares to "buy" and said the company could become "the brand" in energy storage.

U.S. shares of Alibaba jumped nearly 9% after the ecommerce company said it does not expect any material impact from the antitrust crackdown in China that will push it to overhaul how it deals with merchants.

Shares of Nuance Communications Inc surged 16.9% as Microsoft Corp said it will buy the artificial intelligence and speech technology company in a $19.7 billion deal.

Advancing issues outnumbered decliners by a 1.01-to-1 ratio on the NYSE. Declining issues outnumbered advancers for a 1.91-to-1 ratio on the Nasdaq.

The S&P index recorded 50 new 52-week highs and no new low, while the Nasdaq recorded 51 new highs and 25 new lows. (Reporting by Shivani Kumaresan and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 1.66% 209.51 Delayed Quote.-9.98%
CANACCORD GENUITY GROUP INC. 6.08% 12.74 Delayed Quote.14.16%
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
LONDON BRENT OIL 0.00% 68.83 Delayed Quote.29.59%
MICROSOFT CORPORATION 2.11% 248.15 Delayed Quote.9.27%
NASDAQ 100 2.17% 13393.115242 Delayed Quote.1.71%
NASDAQ COMP. 2.32% 13429.978403 Delayed Quote.4.20%
NUANCE COMMUNICATIONS, INC. -0.38% 52.56 Delayed Quote.19.21%
S&P 500 1.49% 4173.85 Delayed Quote.9.49%
TESLA, INC. 3.16% 589.74 Delayed Quote.-16.43%
THE GOLDMAN SACHS GROUP, INC. 2.78% 368.77 Delayed Quote.39.84%
UBS GROUP AG 0.65% 13.89 Delayed Quote.11.39%
WELLS FARGO & COMPANY 1.21% 46.96 Delayed Quote.55.60%
WTI 0.10% 65.475 Delayed Quote.32.44%
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Financials (USD)
Sales 2021 1 375 M - -
Net income 2021 -1,85 M - -
Net Debt 2021 1 077 M - -
P/E ratio 2021 -10 512x
Yield 2021 -
Capitalization 15 036 M 15 036 M -
EV / Sales 2021 11,7x
EV / Sales 2022 10,9x
Nbr of Employees 7 100
Free-Float 97,9%
Chart NUANCE COMMUNICATIONS, INC.
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Nuance Communications, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends NUANCE COMMUNICATIONS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 57,43 $
Last Close Price 52,56 $
Spread / Highest target 14,2%
Spread / Average Target 9,26%
Spread / Lowest Target 6,54%
EPS Revisions
Managers and Directors
NameTitle
Mark D. Benjamin Chief Executive Officer & Director
Daniel David Tempesta Chief Financial Officer & EVP-Finance
Lloyd A. Carney Independent Non-Executive Chairman
Mark Sherwood Chief Information Officer & Senior Vice President
Joseph Carl Petro Chief Technology Officer & Executive VP
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