Boston, MA 10/08/2014 (wallstreetpr) – Flight guidance solutions provider Innovative Solutions & Support Inc (NASDAQ:ISSC) shares entered the oversold territory yesterday. This transpired after the firm gave credence to rumours that one of its biggest business partner Delta Air Lines, Inc. (NYSE:DAL) is contemplating to terminate its contract with Innovative Solutions & Support Inc (NASDAQ:ISSC). The news comes on the back of continued efforts by the systems integrator to pen down the respective parties obligations and deliverables as per the $62 million contract. The contract involves the tech firm upgrading the cockpit software of the MD88 and MD90 aircraft, which make up the ageing fleet of Delta Air Lines, Inc. (NYSE:DAL). The share price of the company slid down by nearly 45.3 percent after the announcement.
Beverage carbonation systems producer Sodastream International Ltd (NASDAQ:SODA) has given a stark warning to its investors that it is finding it hard to attract new customers to buy its soda makers in the U.S market. It has indicated that the weak demand has resulted in slumping sales which will in turn impact the firm’s third-quarter revenue generation and profitability. The company management team has in turn sounded out a new Strategy which revolves around the repositioning of the company products as “Health Focused”. Post the announcement, the home-carbonation machines provider saw its share price being battered at the markets yesterday. The stock was down 22 percent during yesterday’s trading.
Fabrinet (NYSE:FN) stock continued to be buffeted by selling pressure after it reported on 1st October that it had received notice from the New York Stock Exchange. The letter from NYSE intimated the firm that it has not been in compliance of the listing rules of the exchange. NYSE has pointed out that the firm has violated listing rules which mandate that the periodic financial reports have to be updated with the Security and Exchange Commission. It was down 3.29 percent yesterday.
