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Stock Market & Financial Investment News

News Breaks
August 20, 2014
12:45 EDTIRF, IFNNY, POWI, FCS, SMTC, CODEInfineon 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
Check below for free stories on IRF;IFNNY;POWI;FCS;SMTC;CODE the last two weeks.
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September 19, 2014
14:40 EDTCODEBalyasny Asset reports 5.17% passive stake in Spansion
September 16, 2014
07:02 EDTCODESpansion and Winbond sign licensing agreement
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September 10, 2014
10:00 EDTFCSOn The Fly: Analyst Downgrade Summary
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06:32 EDTFCSFairchild downgraded to Neutral from Outperform at RW Baird
Baird downgraded Fairchild to Neutral to reflect expectations for a Q4 slowdown in notebooks, TD-LTE smartphones, and servers and now sees indications where MOSFET and MCU lead times are starting to pull in. The firm sees little upside to Q4 estimates and likely reductions in Q1. Price target lowered to $18 from $20.
September 8, 2014
10:06 EDTFCSOn The Fly: Analyst Downgrade Summary
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06:29 EDTFCSFairchild downgraded to Neutral from Positive at Susquehanna

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