Emcore Corp Slides To Two: year low after dismal Q3

EMCORE

10/08/2022 16:10

** Shares of sensor maker EMCORE Corp  EMKR.O  slide 15% to
$2.65, hitting lowest since May 2020
    ** Co reports wider-than-expected loss for Q3, revenue
misses estimates; Co also announced acquisition of fiber optic
gyroscope and inertial navigation systems business segment of
KVH Industries  KVHI.O  for $55 mln  urn:newsml:reuters.com:*:nASA03KKD urn:newsml:reuters.com:*:nL8N2ZL7KZ
    ** Northland Capital cuts EMKR to 'market perform'; cites
continued weakness from co's cable segment, and risks of losses
from KVH's segment that co acquired, says deal reduces net cash
available
    ** Shares set for worst session in three months, down 62%
YTD including session losses

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))