2023-05-26 11:40:45 ET
- 8x8 Inc. ( NASDAQ: EGHT ) soared 13% as an investor said it planned to talk to management about certain topics, including potential strategic transactions such as business combinations.
- Sylebra Capital reported owning a 12.4% holding in 8x8 ( EGHT ), according to a 13D filing on Friday.
- Separately, Sylebra Capital also reported in a different 13D filing an 8.7% stake in RingCentral ( NYSE: RNG ) and also said it planned to have discussions with its management about potential strategic transactions, including business combinations.
- Earlier Friday, RingCentral ( RNG ) was upgraded to buy at Needham, citing stabilizing growth and improved free cash flow.
- RingCentral ( RNG ) rose 7.5% on Friday amid the Needham upgrade and investor stake news.
- Developing story ...
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8x8 jumps as investor Sylebra Capital plans to seek talks with management