Happy Easter! Amid signs that shelter-in-place orders may be flattening the curve of coronavirus infections, stocks rebounded this past week with the software space up double-digits in percentage terms on average.
Read MoreInitial unemployment claims in the U.S. doubled from the week prior to a whopping 6.6 million as COVID-19 continues to wreak havoc on the economy. The heightened uncertainty prompted a number of responses from several software companies this week, many of whom have now withdrawn guidance for the year.
Read MoreWe lower our FY ’20 estimates for CTG, Inc. (CTG) and reduce our price target from $8.00 to $6.25 based on a FY ’21 EV/EBITDA multiple of 5x. Our revisions reflect the anticipated near-term impact on CTG’s business from measures enacted across the globe to reduce the spread of coronavirus.
Read MoreAmidst an exponential rise in coronavirus cases and a surge in unemployment claims, market sentiment was still more positive than in recent weeks as Congress passed a landmark $2 trillion stimulus package.
Read MoreCoronavirus continued to dominate the headlines, making for another volatile week in the markets. By week’s end, California had enacted a stay-at-home order with several other states expected to follow suit in short order.
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