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☆ Stocks making the biggest moves midday: Peloton, Honeywell, Norfolk Southern, Boot Barn and more
▼ + stars: | 2024-02-01 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Meanwhile, analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of 81 cents per share and $4.34 billion in revenue. Peloton — Shares fell more than 23% on the back of the company's bleak outlook for the current quarter and full-year sales. Peloton is forecasting sales to come in between $700 million and $725 million for the quarter. Analysts polled by LSEG expected revenue of $9.70 billion. Adjusted earnings per share came in at $2.10 versus the $1.66 expected from analysts polled by StreetAccount.

Persons: Robinson, Nextracker, Wolfspeed, MaxLinear, Qorvo, TD Cowen, Gabe Daoud Jr, — CNBC's Pia Singh, Lisa Kailai Han, Jesse Pound, Hakyung Kim, Spencer Kimball, Scott Schnipper Organizations: LSEG, —, Honeywell, New York Community Bank, Regional Banking, Western Alliance, T Bank, Norfolk Southern, Ancora Holdings, Street Journal, Merck —, Merck, FactSet, StreetAccount, Revenue, Qualcomm, Citi

☆ Stocks making the biggest moves after hours: Align Technology, Qualcomm, Wolfspeed and more
▼ + stars: | 2024-01-31 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Adjusted earnings per share of $2.75 were better than the $2.37 per share consensus estimate by LSEG, formerly known as Refinitiv. Align Technology — Shares popped 10% after Align Technology reported fourth-quarter results that surpassed estimates on the top and bottom lines. The orthodontics company reported adjusted earnings of $2.42 per share on revenue of $957 million. Adjusted earnings per share of $1.93 beat the forecast $1.88 in earnings per share, according to FactSet. Wolfspeed is calling for revenue of $185 million to $215 million, while analysts polled by FactSet sought revenue of $222.6 million.

Persons: LSEG, MaxLinear, FactSet, Qorvo, Robinson –, Robinson Organizations: Qualcomm, LSEG, Technology, MetLife — MetLife, FactSet, Rocket Lab

Aug 16 (Reuters) - Taiwan-based Silicon Motion on Wednesday blamed MaxLinear (MXL.O) for breaching their merger agreement and said it would seek damages in excess of the termination fee from the U.S. company. MaxLinear scrapped a nearly $4 billion cash-and-stock deal in July to acquire memory-controller maker Silicon Motion. MaxLinear may be required to pay Silicon Motion a termination fee of $160 million, according to the agreement in May last year. However, Silicon Motion would be liable to pay $132 million if the deal was terminated under some circumstances. Silicon Motion also said the company intends to resume declaring and paying dividends on an annual basis.

Persons: MaxLinear, MaxLinear's, Akash Sriram, Saumyadeb Organizations: U.S ., Singapore International, Thomson Locations: Taiwan, U.S, Delaware, Singapore, Bengaluru

☆ China does Intel a small favor
▼ + stars: | 2023-08-16 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 16 (Reuters Breakingviews) - Intel (INTC.O) can thank China later. The chipmaker on Wednesday terminated its $5.4 billion acquisition of Tower Semiconductor (TSEM.TA), after failing to secure approval from the country’s State Administration for Market Regulation. Beijing’s trustbusters are providing a helpful escape route from the intensifying technology trade war. Reuters GraphicsAdding Tower would have helped Intel boss Pat Gelsinger with his strategic pivot to making semiconductors designed by others. Tower uses old technology, however, while Intel’s new customers, including the U.S. Department of Defense and Qualcomm, want cutting-edge fabrication.

Persons: Pat Gelsinger, MaxLinear, China’s, Jeffrey Goldfarb, Sharon Lam Organizations: Dow Jones Industrial, Intel, Reuters, Tower Semiconductor, Administration, Market, NXP Semiconductors, U.S . Department of Defense, Qualcomm, Wall Street Journal, Motion Technology, Cisco Systems, Acacia Communications, Thomson Locations: San Diego , California, China, country’s, Washington, Beijing

☆ Maxlinear scraps nearly $4 bln deal for Taiwan's Silicon Motion
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - U.S. chipmaker Maxlinear (MXL.O) said on Wednesday it has scrapped a near $4 billion deal to acquire Taiwan-based Silicon Motion . MaxLinear had agreed to buy the memory controller-maker Silicon Motion in May last year in a cash-and-stock deal worth $4 billion. Memory controllers are used to manage data in memory chips. NAND flash memory chips do not need power to retain data and are used in smartphones, personal computers and data center servers. MaxLinear was to pay $93.54 in cash and about 0.4 of its share for each Silicon Motion's American depositary shares, representing a total consideration of $114.34 per ADS.

Persons: chipmaker, MaxLinear, Akash Sriram, Chavi Mehta Organizations: Kioxia, Micron Technology, Samsung, SK Hynix, Western, Silicon, Thomson Locations: Taiwan, U.S, Bengaluru

☆ China’s New Tech Weapon: Dragging Its Feet on Global Merger Approvals
▼ + stars: | 2023-04-04 | by ( Lingling Wei | Asa Fitch | ) www.wsj.com time to read: 1 min

The U.S. encouraged China to set up a robust antitrust regime. Now, Beijing is holding back its required green light for mergers that involve American companies as a technology war with Washington intensifies. Chinese regulators recently have slowed down their merger reviews of a number of proposed acquisitions by U.S. companies, including Intel Corp.’s $5.2 billion takeover of Israel-based Tower Semiconductor Ltd. and chip maker MaxLinear Inc.’s $3.8 billion purchase of Silicon Motion Technology of Taiwan, according to people close to the process.

Qualcomm (QCOM.O) ended its $44 billion purchase of Dutch peer NXP Semiconductors NV in 2018 after failing to secure regulatory approval. read moreChina's regulators have declined to comment on the DuPont deal and have not provided a reason for the delay in reviewing it. One merger arbitrage fund investor, who declined to be named, said deals involving Chinese approval will be closely watched in the aftermath of the scrapped DuPont-Rogers deal. Shares of some U.S. companies with a significant footprint in China that are waiting to complete deals dropped on Wednesday as a result. Some investors cautioned, however, that the collapse of these deals hinges not just on whether Chinese regulators will withhold clearance but also on whether the acquirers are committed to the transactions.

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