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Sarcos Technology and Robotics Corporation - STRCW STOCK NEWS

Welcome to our dedicated news page for Sarcos Technology and Robotics Corporation (Ticker: STRCW), a resource for investors and traders seeking the latest updates and insights on Sarcos Technology and Robotics Corporation.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Sarcos Technology and Robotics Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Sarcos Technology and Robotics Corporation's position in the market.

News
Rhea-AI Summary
Sarcos Technology and Robotics rebrands to Palladyne AI Corp, focusing on AI software for robots to mimic human behavior. Ticker symbol changes to NASDAQ: PDYN. The company aims to enhance robot versatility, shorten training time, and reduce power consumption.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.09%
Tags
AI
-
Rhea-AI Summary
Sarcos Technology and Robotics Corporation announces the appointment of Ben Wolff as president and CEO, with Laura Peterson assuming the role of executive vice chairman. The company is pivoting to focus on commercializing and deploying its robotic AI and machine learning software platform, suspending the development of hardware products. The move aims to leverage the unique AI platform to enhance the productivity of industrial robots worldwide.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.21%
Tags
AI
-
Rhea-AI Summary
Sarcos Technology and Robotics Corporation announces the appointment of Ben Wolff as president and CEO, with Laura Peterson assuming the role of executive vice chairman. The company is pivoting to focus on commercializing and deploying its robotic AI and machine learning software platform, suspending the development of hardware products. The move aims to leverage the unique AI platform to enhance the productivity of industrial robots worldwide.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.88%
Tags
AI
Rhea-AI Summary
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced a pivot to focus on artificial intelligence (AI) and machine learning (ML) software business, bolstered by a $13.8 million contract from the U.S. Air Force. The company appointed Laura Peterson as President and CEO and announced plans to suspend hardware commercialization efforts, reduce headcount, and realign resources to concentrate on the AI/ML platform. Q3 2023 financial results showed a total revenue of $1.8 million, down from $4.7 million in Q3 2022, and a net loss of $29.0 million. Sarcos ended the quarter with $55.1 million in unrestricted cash, cash equivalents, and marketable securities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.57%
Tags
earnings
-
Rhea-AI Summary
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced its pivot to focus on its robotic artificial intelligence (AI) and machine learning (ML) software platform, leveraging years of R&D and recent momentum from U.S. Department of Defense contract wins. The AI software platform aims to reduce robotic training times and increase agility, with a planned market launch in mid-2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.57%
Tags
AI
-
Rhea-AI Summary
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) will release its financial results for the quarter ended September 30, 2023, on November 14, 2023. A conference call and webcast will be held to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.76%
Tags
conferences earnings
Rhea-AI Summary
Sarcos fulfills order for Guardian Sea Class robotic systems from Atlantas Marine
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.42%
Tags
none
-
Rhea-AI Summary
Sarcos Defense receives $13.8M contract to develop AI and ML software for Guardian line of robotic systems, aiming to enhance productivity and safety in job settings. Contract spans 4 years and includes Military Utility Assessments at various Air Force locations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
37.31%
Tags
none
-
Rhea-AI Summary
Sarcos Technology and Robotics Corporation announced financial results for Q2 2023. They optimized operations, formed a new Advanced Technologies software business division, and partnered with Blattner Company for an autonomous robotic solar construction system. They reduced their workforce by 25% and consolidated manufacturing facilities. Q2 2023 revenue was $1.3 million, operating expenses were $31.2 million, and gross margin was 26%. Net loss was $28.7 million. They ended the quarter with $75.1 million in cash.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.06%
Tags
earnings
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.6%
Tags
conferences earnings
Sarcos Technology and Robotics Corporation

Nasdaq:STRCW

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15.34M
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