- Usama Fayyad, Barclays’ chief data officer and a managing director, is joining InvenSense’s (NYSE:INVN) board, thus increasing its size to nine. CEO Behrooz Abdi praises “Usama`s experience in business applications related to data mining, data science and cloud strategy across multiple industries.”
- Shares are up strongly a day after falling 4.6% during a broad tech selloff. Today’s gains might have more to do with a market rally and Friday shortcovering InvenSense had 24.9M shares (35% of its float) shorted as of Dec. 31 than the board appointment.
- InvenSense sold off late last week in spite of a flurry of CES product announcements. Concerns about the launch of Intel’s wearablesfocused Curie module, a buttonsized product that integrates a 6axis accelerometer/gyroscope, a Quark CPU, flash memory, a sensor hub, and a Bluetooth radio, may have been a factor.
FQ3 results arrive on Jan. 29.
Author: Eric Jhonsa