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Stock Market & Financial Investment News

News Breaks
June 9, 2014
10:38 EDTADI, HITTHittite Microwave, Analog Devices both rise following merger
Hittite Microwave (HITT) shares are sharply higher this morning after Analog Devices (ADI) agreed to acquire the company for $78 per share in cash. Analog Devices is engaged in the design, manufacture and marketing of a range of analog, mixed-signal and digital signal processing integrated circuits, while Hittite designs and develops integrated circuits, modules, subsystems and instrumentation for radio frequency microwave and millimeterwave applications. WHAT'S NEW: Analog Devices said it would buy Hittite Microwave for $78 per share in cash in a deal that reflects an enterprise value of approximately $2B. Analog Devices said it will fund the deal through cash on hand and short-term debt financing and that both companies' boards of directors have approved the transaction. The deal, which is anticipated to close near the end of ADI's Q3, is expected to be accretive to ADI's non-GAAP earnings per share. ADI President and CEO Vincent Roche commented that "Hittite’s strength in RF, microwave, and millimeter wave technology complements ADI’s RF and signal conversion expertise." On an investor presentation discussing the deal, ADI said that the deal will be accretive to gross margins and operating profits. ADI is expected to launch a tender offer for Hittite in approximately 10 business days. WHAT'S NOTABLE: Analog Devices also backed its third quarter adjusted EPS guidance of 60c-64c excluding items and revenue growth of 1%-5%. The consensus forecast of analysts prior to the report was 63c and $716.09M, respectively. PRICE ACTION: Hittite Microwave shares rose 28.7% to $77.96 and Analog Devices advanced 5.9% to $55.77 in mid-morning trading.
News For ADI;HITT From The Last 14 Days
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August 27, 2014
07:43 EDTADIJefferies to hold a summit
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07:02 EDTADIOptions expected to be active
Options expected to be active: TIVO TIF SWHC ARUN BOBE ADI
August 26, 2014
16:02 EDTADIAnalog Devices sees Q4 EPS 66c-70c, consensus 67c
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16:01 EDTADIAnalog Devices reports Q3 EPS 63, consensus 63c
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15:42 EDTADIAnalog Devices technical comments before earnings
The stock has underperformed the broader averages in the prior three months, trading down more than 2%. The bulk of the trading range is between $49 and $54 at the high. On good news a run to the top of the range would be highly probable. A breakout above that high would see next resistance at $55.79 and then at $56.18, the 52-week high. If there is an extreme upside move above the 52-week high, next resistance would be at $58.63, a level last seen in the year 2000. In a very long-term trend context, a move above $56 would validate that the current trend above $50 is a long-base breakout that could persist for some time. If the news disappoints, a move to the low of the range at $49 would be probable. A breakdown below that level would signify a turn to a bearish trend on a long-term basis. Next supports would be at $45.69 and then at $44.03.
15:25 EDTADINotable companies reporting after market close
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August 22, 2014
11:17 EDTADIPeregrine unlikely to receive competing bid, says Oppenheimer
Oppenheimer believes Peregrine (PSMI) is unlikely to receive a competing takeover bid to Murata's since Murata is Peregrine's largest customer and Avago (AVGO) and Skyworks (SWKS) are looking to diversify away from mobile. Opco thinks Murata may look to divest Peregrine's non-mobile business, and views Skyworks, RF Micro Devices (RFMD), Analog Devices (ADI), and M/A-Com Technology (MTSI) as logical buyers for the business.
August 21, 2014
08:56 EDTADIAnalog Devices September volatility increases into Q3 and outlook
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