E2open Parent Holdings, Inc.
|Company Name||E2open Parent Holdings, Inc.|
On October 10, 2023, after the market closed, the Company announced its fiscal 2024 second quarter financial results. The Company reported second-quarter earnings of four cents per share, falling short of the analyst consensus estimate of five cents, and a 20% decrease compared to earnings of five cents per share in the same period last year. The Company also cut its fiscal year 2024 projected revenue from $655M-$670M to $625M-$635, a decrease of $30M-$35M.
The same day, the Company announced the departure of Michael A. Farlekas who had been serving as the Company’s Chief Executive Officer.
On this news, E2open’s stock price fell $2.20, or 50.1%, to close at $2.19 per share on October 11, 2023, thereby injuring investors.
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