Itron Inc
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Information Technology : Electronic Equipment, Instruments & Components | Small Cap Blend
Company profile

Itron, Inc. is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe. It offers solutions that enable electric and natural gas utilities to build smart grids to manage assets. It offers a product portfolio, including standard meters and smart metering products, systems and services, for applications in the residential and commercial industrial markets for water and heat. The Company operates under the Itron brand across the world. Its Gas and Water manufacturing facilities are located throughout the world, while its Electricity manufacturing facilities are located in Europe, Middle East and Africa (EMEA), and North America.

Closing Price
$97.01
Day's Change
-4.60 (-4.53%)
Bid
--
Ask
--
B/A Size
--
Day's High
101.36
Day's Low
96.19
Volume
(Above Average)
Volume:
509,165

10-day average volume:
435,447
509,165

UPDATE: S&P 500 adds three companies not named Tesla -- 'a bit of a shocker,' analyst says

8:52 am ET September 8, 2020 (MarketWatch)
Print

By Jeremy C. Owens, MarketWatch

Tesla stock falls in after-hours trading after big run-up amid speculation that car company would get the nod after year of profit; S&P Dow Jones Indices adds Etsy, Catalent and Teradyne instead

Three new names will be added to the S&P 500 index this month, but none of them are Tesla Inc.

S&P Dow Jones Indices announced Friday afternoon that it will add three companies to the S&P 500 -- Catalent Inc. (CTLT) , Etsy Inc. (ETSY) and Teradyne Inc. (TER) Tesla Inc. (TSLA) was thought to be in line for the addition after announcing a fourth consecutive quarter of profitability, a requirement of the index, which many observers cited as a reason for a gigantic increase in the electric-car company's stock in recent weeks.

"S&P 500 inclusion now likely a done deal," Wedbush analyst Dan Ives said after Tesla reported a profitable quarter in July.

When reached Friday, Ives said, "The Champagne was on ice to get into the S&P 500, [it] was baked into shares."

"This was a bit of a shocker and the Street assumed this was a foregone conclusion," Ives said in an email to MarketWatch. "Tesla not getting into the S&P 500 club is a head scratcher and the stock will likely be down for the indexing implications."

Ives reiterated his neutral rating on Tesla shares in a note later Friday. Only 22% of sell-side analysts tracked by FactSet consider Tesla a "buy" as of Friday afternoon, which was actually an increase from earlier in the week (http://www.marketwatch.com/story/only-19-of-tesla-analysts-say-buy-the-stock-while-investors-remain-insatiable-2020-09-01), but still well lower than other stocks in the S&P 500 index (http://www.marketwatch.com/story/this-analysis-of-wall-street-stock-ratings-is-sounding-a-warning-for-tesla-and-62-other-stocks-2020-09-03).

Tesla stock has added more than 31% since announcing second-quarter earnings on the afternoon of July 22, though that performance has declined this week -- at the end of Monday's trading session, the stock had gained 56% since earnings. Shares have suffered this week in the wake of a stock split (http://www.marketwatch.com/story/5-things-to-know-about-tesla-ahead-of-its-5-for-1-stock-split-2020-08-28), the announcement of a plan to sell up to $5 billion in fresh shares (http://www.marketwatch.com/story/tesla-takes-advantage-of-stocks-best-month-in-7-years-with-5-billion-offering-2020-09-01), and insider selling (http://www.marketwatch.com/story/elon-musks-brother-kimbal-made-more-than-8-million-selling-tesla-stock-2-days-before-he-bought-them-2020-09-04). Overall, the electric-car company's shares have still quintupled this year, pushing its market capitalization to $380 billion as of Friday's closing bell.

Three previous members of the S&P Midcap 400 will move up to the larger index instead, replacing three other companies that moved down to the midcap index, H&R Block Inc. (HRB) , Coty Inc. (COTY) and Kohl's Corp. (KSS) The changes will take effect before the open of trading on Sept. 21.

Tesla stock fell more than 6% in after-hours trading following the announcement. Catalent shares rose nearly 3%, Etsy shares added more than 5%, and Teradyne stock increased more than 2%.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 08, 2020 08:52 ET (12:52 GMT)

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