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A two-word app recommendation from Elon Musk has turned into a massive rally in the shares of a tiny medical device company in another case of mistaken identity. “Use Signal,” the Tesla Inc. chief executive officer wrote on Twitter on Jan. 7, apparently referring to the encrypted messaging service. By the end of the day, Signal Advance Inc. shares had surged more than sixfold. That was enough to push Signal Advance’s rally more than 5,100% in three trading days giving it a market valuation of $390 million. Despite reports about the confusion on Friday, the stock has continued to rally. Shares of the Rosharon, Texas-based company surged as much as 885% on Monday before paring the gains. “We strongly recommend people do their due diligence and always invest with care,” the company’s chief executive officer, Dr. Chris Hymel, said when reached by phone on Monday. Signal Advance doesn’t have an association with Musk or the Signal app, he said. Signal...
Investors will be keenly watching the IT stocks performance as its performance will determine whether Sensex and NIFTY can deliver a double digit return in 2017 or not. The top three key highlights from the Q3 earnings for Infosys were: - Guidance slightly down along with the attrition rate: - Vishal Sikka revised the revenue guidance from 8-9% to 8.4-8.8% in constant terms for the financial year which translates into a revenue guidance of 7.2-7.6% in dollar terms. The attrition rates for Infosys declined to 14.9% on a standalone basis and to 18.4% levels on consolidated basis in the October-December quarter. The attrition figures are lower when compared to the quarter ended September 30,2016. Revenues decline & Net profit jumps: The net profit improved for the quarter even as the revenues dipped. The bottom line jumped 2.83% QoQ basis to Rs 3,708 cr from Rs 3,606 cr. Operating profit grows: One of the most important figures in the result announcement, the operating profits rose to...
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