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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
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October 29, 2014
16:10 EDTIRFInternational Rectifier reports Q1 EPS 34c, consensus 33c
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October 27, 2014
08:32 EDTIFNNY, IRFInternational Rectifier announces expiration of HSR waiting period
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October 23, 2014
10:01 EDTIFNNYOn The Fly: Analyst Upgrade Summary
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05:45 EDTIFNNYInfineon upgraded to Overweight from Neutral at HSBC
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October 20, 2014
14:29 EDTCODEEarnings Preview: Texas Instruments down 9% over last three months
Semiconductor maker Texas Instruments (TXN) is expected to report third quarter earnings after the close on Monday, October 20, with a conference call scheduled for 5:30 pm ET. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $3.46B. The consensus range is 66c-74c for EPS on revenue of $3.44B-$3.5B, according to First Call. Along with its last earnings report, Texas Instruments guided to Q3 EPS of 66c-76c on revenue of $3.31B-$3.59B. LAST QUARTER: On July 21, Texas Instruments reported second quarter EPS of 62c, which was higher than analysts' consensus of 59c. The company's revenue of $3.29B exceeded analysts' expectation of $3.27B. Texas Instruments noted that the restructuring changes which occurred in Q2 are positioned to be nil in Q3 and noted that it anticipated utilization in Q3 to remain consistent with Q2 levels. NEWS: On September 18, Texas Instruments increased its quarterly dividend by 13% to 34c. WHAT'S NOTABLE: After the close on October 9, Microchip (MCHP), which develops microcontroller and analog semiconductors, said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future." STREET RESEARCH: Analysts were fairly quiet on Texas Instruments during the quarter. The day after the company issued its Q2 earnings report, Sterne Agee believed that Texas Instruments' commentary on 4G telecom, auto and industrial strength should be positive for Spansion (CODE). RBC Capital noted on the same day that Texas Instruments had "strong" Q2 results, particularly in its execution, while its operating margin leverage was "impressive. The firm maintained a $57 price target and Outperform rating on the stock. On July 24, Tigress Financial upgraded Texas Instruments to Neutral from Underperform. PRICE ACTION: Over the last three months, Texas Instruments' shares are down about 9%. Since October 10, the day after Microchip's warning on the industry correction it believes has begun, Texas Instruments shares are down over 3%. In afternoon trading before tonight's report, Texas Instruments was up 1.7% to $44.41.
October 16, 2014
11:36 EDTCODEOptions with increasing implied volatility
Options with increasing implied volatility: UVXY NQ PVA SVXY VXX SUNE CIE COV ZU CODE
07:41 EDTFCSFairchild sees Q4 revenue $340M-$360M, consensus 367.53M
Fairchild CFO Mark Frey stated, "We expect sales to be in the range of $340M-$360M for Q4. We expect adjusted gross margin to be 33%-34% due primarily to lower sales and the impact of reduced factory loadings in the prior quarter. We anticipate R&D and SG&A spending to be $95M-$97M. The adjusted tax rate is forecast at 12% plus or minus 3 percentage points for the quarter. Consistent with our usual practices, we are not assuming any obligation to update this information, although we may choose to do so before we announce Q4 results."
07:39 EDTFCSFairchild reports Q3 adjusted EPS 28c, consensus 21c
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