Five9 drops after co says not pursuing a sale

Five9

06/12/2023 14:24

** Five9's  FIVN.O  stock down 2.9% at $77.65 premarket
after call center software co said it is not considering a sale
    ** On Mon, Bloomberg reported, citing people with knowledge
of the matter, FIVN had talks to possibly resurrect a deal with
Zoom Video communications  ZM.O , over two years after a buyout
by the virtual meeting firm failed
    ** FIVN shares jumped to more than 1-yr high of $92.40 on
Mon in wake of the report, before closing up 7.4%
    ** On Tues, FIVN shares fell 6.4% to $80.01, but are up ~18%
YTD
    ** ZM shares up 1.7% at $69.87 before the bell

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))