Facebook, Inc. (NASDAQ:FB) shares moving up 0.34% to $187.62 with a share volume of 5.91 Million. Facebook (FB) is in reports that it is “very serious” about launching its own cryptocurrency, according to a report from Cheddar. It’s not the first time the idea of a Facebook coin has been floated, but the plans take on some greater meaning in light of Facebook’s recently reshuffled executive structure and newly formed blockchain group.
Blockchain, the decentralized record-keeping system, could help tackle some of Facebook’s most bothersome problems, like identity verification or advertising sales. It’s also the technology behind most cryptocurrencies, logging ownership and transfers of the digital tokens.
“Like many other companies Facebook is exploring ways to leverage the power of blockchain technology. This new small team will be exploring many different applications,” a Facebook spokesperson told CNBC in a statement. It would likely be years before Facebook’s work on blockchain and cryptocurrency became anything material, Cheddar reports, citing anonymous sources. The business news site also reports Facebook has no plans to hold an ICO, or initial coin offering. The stock is going forward its 52-week low with 29.93% and moving down from its 52-week high price with -3.93%. To have technical analysis views, liquidity ratio of a company was calculated 9.90 as evaluated with its debt to equity ratio of 0.01. The float short ratio was 0.93%, as compared to sentiment indicator; Short Ratio was 0.62.
Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) runs in leading trade, it moving up 4.18% to trade at $22.91. The firm has price volatility of 3.83% for a week and 3.14% for a month. Its beta stands at 1.21 times. Kulicke & Soffa Industries, Inc. (KLIC) revealed that it will not be filing its Quarterly Report on Form 10-Q with the SEC in a timely manner. Following the end of the fiscal quarter, the Company learned of certain unauthorized transactions by a senior finance employee of the Company. The Company has undertaken an investigation of these transactions with the assistance of outside advisors. In the course of this investigation, the Company discovered that certain warranty accruals in prior periods had been accounted for incorrectly and therefore misstated. The Board of Directors of the Company has therefore determined that the Company’s previously issued consolidated financial statements for the fiscal year ended September 30, 2017 can no longer be relied upon due to the misstated warranty accruals made in prior periods.
Although the investigation into warranty accruals and other matters is continuing, the Company currently expects that the warranty accrual adjustment for fiscal year 2017, when finalized, would not be materially adverse to the Company. The Company will reschedule the release of its full second fiscal quarter results following the restatement of those financial statements and the closure of its internal and external review process for the second fiscal quarter. Management is currently evaluating the impact of the restatement on the Company’s internal control over financial reporting and whether any other prior periods were materially impacted and need to be restated.
The Company also reported preliminary second quarter net revenue of $221.8 million, an 11.1% increase from the second fiscal quarter of the prior year. During its second fiscal quarter, K&S repurchased $21.5 million of common stock in open market transactions, ending the quarter with $628.7 million in total cash and investments.
Capital Equipment segment revenue increased by 3.2% from the prior fiscal quarter to $177.1 million and the Aftermarket Products and Services (APS) segment revenue increased by 6.1% from the prior fiscal quarter to $44.7 million during the March quarter. The Company remains committed to tactically enhancing market share in both Capital Equipment and APS segments.
The Company has announced the following second quarter financial numbers which are preliminary and subject to change based on the ongoing review. The Company repurchased a total of 0.9 million shares of common stock at a cost of $21.5 million The Company currently expects net revenue in the third fiscal quarter of 2018 ending June 30, 2018 to be approximately $255 million to $270 million. For the first three quarters of 2018, this guidance represents an increase of 17.7% over the same period in the prior year. Narrow down four to firm performance, its weekly performance was -4.76% and monthly performance was -14.44%. The stock price of KLIC is moving down from its 20 days moving average with -3.85% and isolated negatively from 50 days moving average with -6.62%.