Tech Stocks Outlines! VimpelCom Ltd (VIP), Square Inc (SQ)
Shares of VimpelCom Ltd (ADR) (NASDAQ:VIP) increased -2.10% and closed at $3.27 after opening 3.34 with the overall traded volume of 2.03 million shares. The company’s Market capitalization reached to $5.62 billion, $1.76 billion outstanding shares. Its low price was $3.27 and highest price was $3.37. The Distance from 50 day Simple moving average was -16.12% and Distance from 200 day Simple moving average -12.82%.The EPS is -0.64.
VimpelCom Ltd (ADR) (VIP) announced that it has accepted the resignation of Mikhail Slobodin, Chief Executive Officer (CEO) of VimpelCom Russia (Beeline), with immediate effect, following news regarding Mikhail Slobodin and his prior employer, T Plus.
Kjell Johnsen, Head of Major Markets, will lead VimpelCom’s business in Russia with immediate effect. Kjell has extensive experience in the country and will continue to drive the company’s transformation forward. Kjell Johnsen joined VimpelCom to lead VimpelCom’s Major Markets in August 2016 and has international expertise in senior roles across a variety of industries, with responsibility for markets such as Russia, Scandinavia, and Central and Eastern Europe.
Shares of Square Inc (NYSE:SQ) decreased -0.63% and closed at $11.12 after opening 11.24 with the overall traded volume of 1.90 million shares. The company’s Market capitalization reached to $3.78 billion, $123.75 million outstanding shares. Its low price was $11.07 and highest price was $11.35. The Distance from 50 day Simple moving average was -4.44% and Distance from 200 day Simple moving average was 0.53%. The EPS is -0.78.
Square Inc (SQ) announced that it reduced the speed of their chip card reader by 25% from 5.7 seconds to 4.2 seconds (measured from when a card has been dipped to when payment is complete). Square also unveiled its goal to further reduce that speed to around 3 seconds as it continues shaving off transaction time through software updates that get automatically pushed to business owners’ devices. Nearly one year ago, the U.S. began a transition to chip cards, riddled with hurdles like masking tape covering chip slots at big box stores and lengthy lines of customers waiting at the register to retrieve their cards. “Consumers and business owners alike loathe waiting for chip cards to process. And we, at Square, feel the same. But it doesn’t have to be this way,” said Jesse Dorogusker, Square’s Hardware Lead said in a blogpost.