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Stock Market & Financial Investment News

News Breaks
June 26, 2012
09:27 EDTSMSC, MCHPStandard Microsystems, Microchip Tech to settle class-action suits
On June 22, Standard Microsystems (SMSC) and Microchip Technology (MCHP) received notice of clearance from the Korea Fair Trade Commission, the relevant antitrust authority in Korea with respect to the transaction proposed in the Agreement and Plan of Merger, dated as of May 1, among Microchip, a Delaware corporation, Microchip Technology Management Co., a Delaware corporation and a wholly-owned subsidiary of Microchip, and the Company, pursuant to which Merger Sub will merge with and into SMSC, with SMSC surviving as a wholly-owned subsidiary of Microchip. The parties previously received antitrust clearance in the United States on May 18 and in Germany on June 12. The parties await the receipt of additional antitrust clearances in China and Turkey. On June 25, the Company and Microchip entered into a memorandum of understanding with the plaintiffs in certain class action lawsuits filed on behalf of SMSCís stockholders regarding the settlement of those class action lawsuits that were filed following the announcement of the Merger Agreement. The settlement provides that the Defendants deny that they engaged in any wrongdoing, committed any violation of law or acted improperly in any way, and believe that they acted properly at all times and that the Litigation has no merit, but wish to settle the Litigation in order to eliminate the distraction of further litigation.
News For SMSC;MCHP From The Last 14 Days
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February 4, 2016
07:24 EDTMCHPMicrochip sees December quarter as end of inventory correction, says Stephens
Stephens analyst Harsh Kumar noted that along with reporting "solid" December quarter results, Microchip said it believes the quarter marked the end of the current inventory correction. The company historically has credibility in calling semiconductor cycles, Kumar tells investors in a research note. The analyst, who prefers to wait for a better entry point into the stock, keeps a $55 price target and Equal Weight rating on Microchip shares.
February 3, 2016
16:22 EDTMCHPMicrochip sees Q4 EPS 65c-69c, consensus 66c
Sees Q4 revenue $552M-$568.5M, consensus $567.1M.
16:21 EDTMCHPMicrochip reports Q3 EPS 64c, consensus 62c
Reports Q3 revenue $540.3M, consensus $551.85M. Reports Q3 non-GAAP revenue $552M.
16:17 EDTMCHPMicrochip appoints Ganesh Moorthy as COO
Microchip Technology announced that its board has appointed Ganesh Moorthy as president and COO effective immediately. Moorthy joined Microchip in 2001 as Vice President of the Advanced 8-bit Microcontroller division.
14:48 EDTMCHPNotable companies reporting after market close
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10:00 EDTMCHPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Market Perform from Outperform at William Blair... Credit Acceptance (CACC) downgraded to Underperform at Raymond James... CIT Group (CIT) downgraded to Neutral from Buy at Citi... Cobalt (CIE) downgraded at Stifel... Cypress Energy (CELP) downgraded to Outperform from Strong Buy at Raymond James... Freeport McMoRan (FCX) downgraded on weak near-term outlook at Argus... Gastar Exploration (GST) downgraded to In-Line from Outperform at Imperial Capital... Intersil (ISIL) downgraded to Sell from Neutral at Citi... LyondellBasell (LYB) downgraded to Outperform from Top Pick at RBC Capital... Marriott (MAR) downgraded to Market Perform from Outperform at Wells Fargo... Microchip (MCHP) downgraded to Sell from Neutral at Goldman... Morgan Stanley (MS) downgraded to Underweight from Neutral at Atlantic Equities... Navios Maritime Partners (NMM) downgraded to Hold from Buy at Deutsche Bank... Peapack-Gladstone (PGC) downgraded to Hold from Buy at Sandler O'Neill... QIWI (QIWI) downgraded to Market Perform from Outperform at William Blair... STORE Capital (STOR) downgraded to Neutral from Buy at Ladenburg... Spark Energy (SPKE) downgraded to Neutral from Outperform at Baird... Stone Energy (SGY) downgraded to In-Line from Outperform at Imperial Capital... SunEdison Semiconductor (SEMI) downgraded to Sell from Neutral at Goldman... Teradyne (TER) downgraded to Neutral from Buy at Goldman... Texas Instruments (TXN) downgraded to Sell from Neutral at Goldman... UBS (UBS) downgraded to Sector Perform from Outperform at RBC Capital... Whiting Petroleum (WLL) downgraded on oil price outlook at Stifel... Xcel Energy (XEL) downgraded to Sell from Neutral at UBS... Xilinx (XLNX) downgraded to Buy from Conviction Buy at Goldman... Yahoo (YHOO) downgraded to Hold from Buy at Axiom.
February 2, 2016
17:49 EDTMCHPMicrochip downgraded to Sell from Neutral at Goldman
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11:50 EDTMCHPOptions with increasing put volume; BKLN AKS ROK MCHP EXXI TPX ALU TXT RCL
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10:01 EDTMCHPHigh option volume stocks: DF ROK MCHP SFLY PBI IDTI IILG

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