New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 29, 2014
05:58 EDTCRUSCirrus Logic agrees to acquire Wolfson Microelectronics for $467M
Cirrus Logic and Wolfson Microelectronics announced the terms of a recommended transaction under which Cirrus Logic would acquire Wolfson at a price of GBP 2.35 per share in cash, implying an enterprise value of GBP 278M, or approximately $467M. The transaction, if approved, is expected to strengthen Cirrus Logic’s ability to expand its customer base with highly differentiated, end-to-end audio solutions for portable audio applications. The transaction will be financed by a combination of existing cash on Cirrus Logic’s balance sheet and $225M in debt funding. The acquisition is expected to be completed in the second half of 2014. Cirrus Logic expects the acquisition to be accretive to non-GAAP earnings per share in the first full quarter after the transaction closes.
News For CRUS From The Last 14 Days
Check below for free stories on CRUS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 30, 2014
11:22 EDTCRUSOptions with decreasing implied volatility
Subscribe for More Information
July 29, 2014
11:46 EDTCRUSOptions with decreasing implied volatility
Options with decreasing implied volatility: INO PBYI ANGI MLNX INFN TTS QLIK DECK SKX CRUS
08:22 EDTCRUSCirrus Logic management to meet with Needham
Meetings to be held in Boston on August 5 and in Chicago on August 6 hosted by Needham.
July 28, 2014
11:18 EDTCRUSOptions with decreasing implied volatility
Subscribe for More Information
July 24, 2014
10:26 EDTCRUSOptions with decreasing implied volatility
Subscribe for More Information
July 23, 2014
18:34 EDTCRUSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Fortinet (FTNT), up 7.8%... Hanesbrands (HBI), up 5.4%... 8x8 (EGHT), up 5.1%... Infinera (INFN), up 4.9%... Facebook (FB), reverses and is now trading up 5.1% following second quarter earnings conference call. NOTABLE: Twitter (TWTR), up 1.7%, LinkedIn (LNKD), up marginally, and Yelp (YELP), up 1.6% after Facebook reports second quarter results. ALSO HIGHER: Spectranetics (SPNC), up 7.1% after receiving FDA clearance for atherectomy products, Turbo-Tandem and Turbo Elite... Ariad Pharmaceuticals (ARIA), up 7.1%... Jamba (JMBA), up 3.8% after Engaged Capital reports stake in the company and announced that they had discussions with management. DOWN AFTER EARNINGS: AT&T (T), down 1.2%... Angie's List (ANGI), down 16.4%... Tripadvisor (TRIP), down 11.5%... Orchids Paper (TIS), down 7.4%... Cirrus Logic (CRUS), down 6.6%... Cliffs Natural (CLF), down 1.2%... Teradyne (TER), down 4%. ALSO LOWER: Kandi Technologies (KNDI), down 3.8% after being mentioned negatively in a Seeking Alpha blog post.
16:03 EDTCRUSCirrus Logic sees Q2 revenue $175M-$195M, consensus $185.86M
Sees Q2 gross margin 47%-49%. The company said, “We are pleased with our Q1 financial results as we experienced strong demand for our custom and general market portable audio products across our customer base. With a robust pipeline of innovative products and the pending acquisition of Wolfson, we are strengthening the company’s position as a market leader in audio with a comprehensive product portfolio, differentiated software capabilities and a top-tier customer base.” The company expects to close its Wolfson Microelectronics acquisition in the September quarter.
16:01 EDTCRUSCirrus Logic reports Q1 adjusted EPS 37c, consensus 30c
Reports Q1 revenue $152.6M, consensus $148.03M. Reports Q1 gross margin of 49%.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use