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Akamai Confirms Limited Participation In Needham Conference

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Akamai Confirms Limited Participation In Needham Conference
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Akamai Technologies, Inc. (NASDAQ: AKAM) popped 1.8 percent Monday morning on rumors it backed out of the Needham Emerging Technology Conference, but a company spokesperson confirmed that it intends to participate in a limited capacity.

“We are attending the conference but only participating in one-on-ones due to scheduling challenges of executives to be there for a formal presentation,” a representative told Benzinga. “We will still be participating in one-on-ones as this is a common practice among companies.”

Stocks are known to react to rumors of conference cancellations, which occasionally indicate a company’s unwillingness to address questions surrounding recent news or signal upcoming market-moving announcements.

The Needham Conference, which is scheduled to take place May 16 and 17, highlights companies poised to succeed in and redefine the investment landscape for consumer, Internet and digital media, and software and services scenes. Investors and equity managers attend presentations and individual meetings to better understand the business models and potential of industry leaders.

Akamai shares were trading at a rate of $61.31 at the time of publication.

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Posted-In: News Rumors Previews Events Exclusives Movers Tech Trading Ideas Best of Benzinga

 

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