Celestica Inc
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Information Technology : Electronic Equipment, Instruments & Components | Small Cap Value
Based in Canada
Company profile

Celestica Inc. is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services. Its products and services serve a range of applications, including servers; storage systems; optical equipment; aerospace and defense electronics; healthcare products and applications; semiconductor equipment, and a range of industrial and alternative energy products, including solar panels and inverters. It designs, manufactures and tests solar panels for the residential, commercial and utility scale markets. It uses technologies in the assembly and testing of its products.

Closing Price
Day's Change
-0.16 (-1.85%)
B/A Size
Day's High
Day's Low
(Above Average)

10-day average volume:

XPeng stock drops to extend selloff after public share offering

6:46 am ET December 7, 2020 (MarketWatch)

Tomi Kilgore

China-based EV maker looking to sell 40 million U.S.-listed shares to the public

Shares of XPeng Inc. dropped Monday, to extend last week's selloff, after the China-based electric vehicle maker disclosed a public offering of 40 million shares.

The stock (XPEV) slumped 4.7% in premarket trading, after falling 11.9% the past two days and tumbling 23.2% last week. That was the biggest weekly loss since the stock started trading in Aug. 27.

The company said in a filing with the Securities and Exchange Commission that it was looking to sell 40 million Class A American depositary shares (ADS) to the public, which represents 80 million ordinary shares. That offering represents about 5.4% of the U.S.-listed shares outstanding, based on data provided by FactSet.

Credit Suisse, J.P. Morgan, BofA Securities and Citigroup are the underwriters of the offering.

The selloff in Xpeng's stock last week was part of broader weakness among its peers, as some analysts cut ratings on valuation concerns (https://www.marketwatch.com/story/xpeng-downgraded-at-ubs-as-stock-has-run-up-too-much-to-keep-buying-11607004263) and other companies also looked to sell shares.

Shares of Li Auto Inc. (LI) fell 2.5% ahead of Monday's open, and was headed for an eighth-straight loss (https://www.marketwatch.com/story/li-auto-stock-falls-again-after-public-share-offering-prices-at-10-discount-11607088717), and Nio Inc.'s stock (NIO) fell 3.5% premarket after shedding 20.3% last week.

The stock's declines come as the iShares MSCI China exchange-traded fund (MCHI) slid 0.9% premarket and futures for the S&P 500 index slipped 0.4%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

December 07, 2020 06:46 ET (11:46 GMT)

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