New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 20, 2014
12:45 EDTCODE, POWI, SMTC, IFNNY, FCS, IRFInfineon acquires International Rectifier in $3B deal
German semiconductor maker Infineon (IFNNY) agreed to buy U.S. chip marker International Rectifier (IRF) for $40 per share, the companies just announced. WHAT'S NEW: International Rectifier will be acquired by Infineon for $40 per share in cash, or $3B. Infineon said that the deal would create "a highly complementary and innovative semiconductor product portfolio, distribution strength and a stronger regional presence." It will also "complement Infineonís expertise in power semiconductors and add system know-how in power conversion, while expanding its expertise in compound semiconductors and driving greater economies of scale in production," the German company stated. WHAT'S NOTABLE: Before Infineon and International Rectifier announced the deal, Bloomberg reported that Infineon was nearing a deal to acquire a semiconductor company for $2B, but did not name the takeover target. The news service identified Power Integrations (POWI), Fairchild Semiconductor (FCS) and Semtech (SMTC) as takeover targets in the semiconductor space that have market capitalizations under $2B. The shares of all three companies, along with those of semiconductor company Spansion (CODE), rose following Bloomberg's report. Those four stocks gave back some of their gains after International Rectifier's shares were halted for news shortly before 12 PM ET. PRICE ACTION: In early afternoon trading, International Rectifier jumped 47% to $39, while Infineon gave back 3% to $11.20. Power Integrations climbed 4% to $60, Fairchild Semiconductor advanced 6% to $17, Semtech climbed 4% to $24, and Spansion gained 3% to $19.80.
News For IRF;IFNNY;POWI;FCS;SMTC;CODE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 31, 2015
10:10 EDTIFNNYInfineon CEO says company could be takeover target, FT reports
Subscribe for More Information
August 19, 2015
18:34 EDTSMTCOn The Fly: After Hours Movers
Subscribe for More Information
16:35 EDTSMTCSemtech sees Q3 EPS 21c-24c, consensus 29c
Subscribe for More Information
16:33 EDTSMTCSemtech reports Q2 EPS ex-items 24c, consensus 24c
Reports Q2 revenue $125.7M, consensus $123.74M.
14:48 EDTSMTCNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include L Brands (LB), consensus 68c... NetApp (NTAP), consensus 23c... Synopsys (SNPS), consensus 59c... Popeyes Louisiana Kitchen (PLKI), consensus 44c... Semtech (SMTC), consensus 24c.

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