Cimpress (NASDAQ:CMPR) shares fell 0.5% in pre-market trading to $88.64 as major U.S. equity indices moved lower ahead of the opening bell.
No new company-specific announcement was identified in the supplied information as a direct catalyst for the move.
Cimpress shares were trading within a range of $87.40 to $89.99 and remained below their 52-week high of $106.58.
Treasury yields remain elevated ahead of economic data
The broader market backdrop follows comments from Federal Reserve Chair Kevin Warsh in late August in which he emphasised that inflation remained above the central bank’s target.
U.S. Treasury yields subsequently moved higher, with the 10-year yield trading near 4.76%.
Cimpress completed a $1.1 billion Term Loan B financing earlier this year. CEO Robert Keane also sold shares in mid-August, according to the supplied information.
U.S. equity indices point lower before the open
Major U.S. equity indices were indicated lower ahead of Tuesday’s session. The Nasdaq was down nearly 1.0%, while the S&P 500 declined 0.5% and the Dow Jones fell 0.6%.
Investors were also awaiting the JOLTS job openings report later in the session for additional information on U.S. labour market conditions.
The data comes ahead of the Federal Reserve’s September 16 policy meeting. Market expectations for an interest-rate increase have risen following Warsh’s recent comments, although the outcome of the meeting remains uncertain.
September has historically produced weaker average returns for U.S. equities than other months, although past seasonal patterns do not determine future market performance.
Cimpress Investor Day scheduled for September 30
With no new company-specific development identified, the information provided does not establish a definitive reason for Cimpress’s 0.5% pre-market decline.
The company is scheduled to hold its Investor Day on September 30, providing a future opportunity for investors to receive additional information on its operations and strategy.
For Tuesday’s session, Cimpress shares were trading lower alongside broader U.S. equity markets ahead of the release of further economic data.
Cimpress stock price
