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Stock Market & Financial Investment News

News Breaks
January 24, 2013
08:13 EDTCYCypress Semiconductor says cutting company down to 3 divisions
Reports Q4 book-to-bill of 0.88, up sequentially in every division for the first time all year. The company said, "We did not perform well in 2012, including the fourth quarter. Yes, the economy is lackluster, but our performance was not good even in that environment. Our revenue was at the higher end of our preliminary financial announcement on January 8, 2013, but it decreased 11% sequentially—well below our expectations at the beginning of the fourth quarter. All divisions decreased sequentially and on a year-on-year basis. We are now cutting the company down structurally from four divisions to three to rapidly reduce our operating expenses. Our goal is to re-establish the drop-through earnings leverage that has characterized Cypress since the SunPower spinout."
News For CY From The Last 14 Days
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December 15, 2014
07:06 EDTCYCypress Semiconductor upgraded to Outperform from Neutral at Wedbush
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December 10, 2014
08:54 EDTCYCypress Semiconductor price target raised to $18 from $13 at Sterne Agee
Sterne Agee increased its price target on Cypress (CY) as the firm expects the company's merger with Spansion (CODE) to produce about $135M of synergies, with 50% of the synergies materializing in the first year. The firm keeps a Buy rating on Cypress.

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