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Stock Market & Financial Investment News

News Breaks
December 18, 2012
19:41 EDTIDTI, PLXTFTC seeking to block Integrated Device, PLX Technology merger
The Federal Trade Commission issued an administrative complaint seeking to stop Integrated Device Technology's (IDTI) proposed $330M acquisition of PLX Technology (PLXT), a deal that allegedly would give the combined firm a near-monopoly in the market for a type of integrated computer circuits called PCIe switches. The commission also authorized the staff to seek a preliminary injunction in federal district court or other relief necessary to stop the deal pending a full administrative trial. According to the FTC, IDT and PLX are each otherís closest and most direct competitor in the nearly $100M market for PCIe switches. IDTís proposed acquisition of PLX would give the combined firm a share in excess of 85% of the market, according to the FTC. Reference Link
News For IDTI;PLXT From The Last 14 Days
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April 22, 2014
09:16 EDTPLXTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
09:00 EDTPLXTPLX Technology rises 8.1%
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April 21, 2014
16:10 EDTPLXTPLX Technology sees Q2 revenue $27M-$29M, consensus $26.95M
Q2 non-GAAP gross margins are expected to be approximately 56%, with GAAP margins at approximately 55%.
16:09 EDTPLXTPLX Technology reports Q1 EPS 7c, consensus 2c
Reports Q1 revenue $24.8M, consensus $25.47M.

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