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Stock Market & Financial Investment News

News Breaks
March 18, 2014
07:17 EDTQLGCQLogic results poised to beat expectations, says RBC Capital
After meeting with QLogic's management, RBC Capital thinks the company's FY15 results are positioned to surpass expectations, driven by the company's recently acquired 10/40Gb Ethernet assets and its Fibre Channel target silicon opportunity. The firm keeps a $13 price target and Outperform rating on the shares.
News For QLGC From The Last 14 Days
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February 25, 2015
17:37 EDTQLGCQLogic rallies after Avago says purchasing Emulex for $8 per share
Shares of QLogic (QLGC) are higher in the extended session after peer Emulex (ELX) agreed to be bought for $8 per share in cash by Avago Technologies (AVGO). WHAT'S NOTABLE: Emulex and QLogic both make products for network infrastructure. After the close, Avago Technologies (AVGO) and Emulex Corporation (ELX) announced that they have entered into a definitive agreement under which Avago will acquire Emulex in an all-cash transaction valued at approximately $606M. Under the terms of the agreement, which has been approved by the boards of both companies, a subsidiary of Avago will commence a tender offer for all of the outstanding shares of Emulex common stock for $8 per share in cash. Avago expects to fund the transaction with cash available on its balance sheet. PRICE ACTION: Shares of Emulex are higher by almost 25%, while QLogic shares are up almost 5% in extended trading. Avago is up almost 6% to $118.56.

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