Domo falls after company shelves forecast amid strategic alternatives pursuit
BUZZ-Domo falls after company shelves forecast amid strategic alternatives pursuit ** Shares of cloud-based data provider Domo DOMO.O slide 14.1% to $2.80 in extended trading
** DOMO says it is not providing financial forecast at this time and it will not provide further updates regarding the strategic review process
** In February, Domo initiated a formal process to explore strategic alternatives; co is in advanced negotiations regarding a potential transaction
** "While substantial progress has been made, no definitive agreement has been executed and there can be no assurance that any transaction will result from these discussions" - Domo
** Reports Q1 rev of $79.4 mln vs. LSEG-compiled analysts' avg est of $79.8 mln
** As of last close, stock down ~61% this year
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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