SAP Plunges, STMicro Rises, Deutsche Bank Declines
On this episode of Stock Movers:- SAP shares drop as much as 11%, the biggest intraday decline in more than five years, after the software firm reported 25% growth in current cloud backlog on constant-currency basis.- STMicroelectronics NV, a chip supplier for Tesla Inc. and Apple Inc., forecast first-quarter revenue that beat analysts’ estimates after demand from consumer electronics customers showed signs of recovery at the end of last year. STMicro shares rose 3.4% to €25.81 in Paris trading at 9:12 a.m - Deutsche Bank announced a €1 billion buyback along with €1.9…
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