Summit Wireless Technologies Inc
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*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Information Technology : Semiconductors & Semiconductor Equipment |
Company profile

Summit Wireless Technologies Inc., formerly Summit Semiconductor, Inc. is an early-stage company that develops and sells wireless audio integrated circuits for home entertainment and professional audio markets. The Company develops and provides semiconductors and wireless audio modules to consumer electronics companies, which transmits and receives audio directly to speakers. Its technologies focus on providing wireless, interference free and uncompressed high-definition audio signals. Its subsidiaries include Summit Semiconductor, Inc., Summit Semiconductor K.K., and WiSA, LLC.


Last Trade
-0.06 (-2.49%)
B/A Size

Market Hours

Closing Price
Day's Change
-0.22 (-8.37%)
Bid close
Ask close
B/A Size
Day's High
Day's Low

10-day average volume:

Wells Fargo's stock sinks further after J.P. Morgan reiterates bearish view amid concerns of dividend cut

8:01 am ET May 14, 2020 (MarketWatch)

Shares of Wells Fargo & Co. (WFC) dropped 2.4% in premarket trading Thursday, extending recent losses that have taken them to 11-year lows. J.P. Morgan analyst Vivek Juneja reiterated the underweight rating he's had on the stock for the past two years, writing in a note to clients that "concerns about dividend cuts have weighed on Wells Fargo recently because it has the highest payout ratio among our banks and also because of remarks by [Federal Reserve] Vice Chair [Randal] Quarles." Wells Fargo's stock lost ground in nine of the past 10 sessions, losing 24.9% over that stretch, to close Wednesday ($22.53) at the lowest price since June 22, 2009. At that price, Wells Fargo's dividend yield is 9.05%, compared with the yield for the SPDR Financial Select Sector ETF (XLF) of 2.90% and the implied yield for the S&P 500 of 2.04%, according to FactSet. Regarding speculation by some of a merger between Wells Fargo and Goldman Sachs Group Inc. (GS), Juneja said any bank acquisition by Wells is "banned by law" as the bank already exceeds the 10% deposit market share limit. Wells' stock has tumbled 58.1% year to date through Wednesday, while the financial ETF has shed 32.9%, Goldman's stock has declined 25.3% and the S&P 500 has lost 12.7%.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

May 14, 2020 08:01 ET (12:01 GMT)

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