Cancom slumps in premarket on 2024 outlook cut
12/11/2024 07:30
** Shares in Cancom COKG.DE are indicated down 10.8% in
Lang & Schwarz premarket after the German IT infrastructure and
services provider cut its outlook, citing growing uncertainties
due to political developments in Austria and Germany
** Cancom expects its 2024 revenue to come between 1.65-1.75
bln euros ($1.75 bln-$1.86 bln) vs previously expected 1.75-2.0
bln euros
** "Low visibility especially on public sector and SME
investments hurt shares. No complete surprise but no reason to
try catching a falling knife, too," a local trader writes
** Cancom's stock is seen at the bottom of Germany's
small-caps index .SDAXI in Lang & Schwarz premarket trade
($1 = 0.9403 euros)
(Reporting by Tristan Veyet)
((Tristan.chabba@thomsonreuters.com))