Former Gillette, Timex and Energizer executive brings wealth of global consumer product experience, turnaround leadership, and proven track record of driving profitable growthBEDFORD, Mass., May 7, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that Gary Cohen will serve as the company's new chief executive officer, effective immediately. Mr. Cohen has more than 25 years of executive leadership and turnaround experience. As iRobot CEO, he will lead the company ...

BEDFORD, Mass., April 25, 2024  /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that it will issue its first-quarter 2024 financial results after market close on Tuesday, May 7, 2024. The earnings press release will be posted at https://investor.irobot.com/news-releases. On May 8, the company will host a live conference call and webcast to review its financial results and discuss its outlook. Conference call details: Date: Wednesday, May 8, 2024Time: 8:30 a.m. ETCal ...

Group 1 - Merger arbitrage is an investment strategy that focuses on small, reliable profits rather than large gains, but it can be more complex than it appears [1][2] - The process involves buying shares of a company being acquired at a discount to the buyout price, which typically results in profit if the deal closes as expected [2][3] - The existence of a discount between market price and offer price indicates potential risks, as deals can fall through, leading to significant losses [3][4] Group 2 - iRobot's stock price surged when Amazon announced its acquisition, but fell sharply when the deal was called off due to regulatory issues, highlighting the risks of merger arbitrage [4][5] - Spirit Airlines experienced a similar fate when its acquisition by Jetblue was scuttled, resulting in a significant drop in share price due to regulatory concerns [5][6] - U.S. Steel's shares also declined amid fears that Nippon Steel may not secure necessary regulatory approvals for its acquisition, illustrating ongoing risks in the merger landscape [6][7] Group 3 - Successful merger arbitrage requires careful assessment of the likelihood of deal completion, as misjudging a deal can lead to substantial losses [7] - Merger arbitrage specialists employ various strategies, including shorting shares and options trading, to mitigate risks associated with failed deals [7][8] - For those interested in merger arbitrage, investing in a diversified fund like Merger Fund is recommended, as individual attempts may not yield favorable risk/reward outcomes [8]

If you’re paying attention, there’s a robotics stocks revolution quietly underway. While headlines holler about imminent worker replacement by hordes of AI-enabled robots, the truth is much more optimistic. As our collective quality of life and the dollar value of our labor increase, many otherwise admirable and desirable endeavors become too pricy – think scaled architecture of ages past or bespoke metalworks for your front garden. Meanwhile, a handful of robotics innovators are toiling behind the scenes t ...

Over a year after Amazon (NASDAQ: AMZN) announced its intention to acquire iRobot (IRBT 6.96%), the deal fell through following a mutual agreement to terminate the deal. Now, the company best known for its Roomba line of robot vacuum cleaners is trading near an all-time low, and will need to stand on its own wheels.Let's examine why Amazon's acquisition of iRobot fell through, how iRobot is pivoting, and whether it's worth investing in the consumer robot company.Why did the acquisition fall through?In late ...

iRobot (IRBT -4.60%) is back to bumping along a path all by itself. The proposed Amazon acquisition failed its regulatory review, so investors again find themselves evaluating the robotic device specialist's prospects for finding its own growth opportunities.Those prospects don't seem great. In late February, iRobot reported significant 2023 losses and projected another difficult year ahead for sales and earnings. But with the stock currently at an all-time low valuation, is it time to consider starting a p ...

A short squeeze is a financial phenomenon where rapidly increasing prices force short sellers to buy back stocks, pushing prices even higher. This situation often arises from a large number of investors betting against a stock, anticipating its decline.However, when the price unexpectedly jumps, short sellers rush to cover their positions to minimize losses, inadvertently driving the price up further. This cycle can intensify as more short sellers buy to close their positions, adding to the upward momentum ...

iRobot Corporation (IRBT) is benefiting from solid product offerings and customer base. Innovation capabilities, expansionary vision, operational initiatives and manufacturing in China and Malaysia should drive the company’s growth. Also, iRobot continues to invest in higher-value robotics, computer vision, machine learning and complex mechanical design to improve the core functionality of the robots, which is expected to be beneficial in the quarters ahead.The company’s diversified product portfolio has be ...

Core Viewpoint - iRobot's stock has significantly declined following the termination of its acquisition deal with Amazon, with a 40% drop since January 2024, compounded by disappointing financial results and guidance for Q1 2024 [1][2]. Financial Performance - iRobot reported a 14% decline in sales and a loss of $2.28 per share in Q4 2023, which was the first financial report after the breakup with Amazon [1][2]. - For Q1 2024, iRobot expects sales between $137 million and $142 million, indicating a potential 14% year-over-year decline, with losses projected at least $2 per share, possibly up to $2.13 [2]. - Wall Street had anticipated sales of $158 million and losses of less than $2 per share, indicating that iRobot's guidance is worse than market expectations [2]. Future Outlook - Despite the bleak Q1 forecast, iRobot's projections for the remainder of 2024 suggest that conditions may improve, with gross margins expected to improve and sales declines not as severe [3]. - The full-year sales forecast is between $825 million and $865 million, representing only a 3% decline in the best-case scenario [3]. - However, earnings are still expected to be poor, with GAAP losses projected between $2.70 and $3.13 per share, aligning closely with non-GAAP forecasts of $3.30 to $3.73 [3].

BEDFORD, Mass., March 11, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its GAAP and non-GAAP financial expectations for the first quarter ending March 30, 2024, and reiterated its previously announced financial outlook for the fiscal year ending December 28, 2024 ahead of meetings with institutional investors.   First Quarter 2024 OutlookiRobot is providing GAAP and non-GAAP financial expectations for the first quarter ending March 30, 2024. A detailed recon ...