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☆ India is the new Asia growth story. Here’s why investors are bullish on the outlook
▼ + stars: | 2024-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

As China's property market and deflation woes continue to rattle investors, India's growth outlook appears all the more impressive. Last year's annual report attributed strong revenue growth partially to expansion in the Middle East, India, and Asia, Krishna wrote. "More than revenue, India is an important area for sourcing talent" as well, Krishna wrote. Growth potential For investors looking to gain exposure to the domestic stock market, Indian equities themselves aren't especially cheap though. "You're paying for the growth potential in India, certainly.

Persons: Morgan Stanley, Chetan Ahya, Ahya, Bernstein, —, Narendra Modi, Bill Fitzpatrick, Fitzpatrick, Quincy Krosby, Venu Krishna, Aecom, Krishna, Tim Long, Long, Simon Coles, Krosby, Jeffrey Gundlach, Gundlach, CNBC's, — CNBC's Michael Bloom Organizations: Investment, Logan Capital Management, Modi, Infrastructure Pipeline, Aecom, Barclays, Cisco Systems, Juniper Networks, India —, Semiconductor, Micron Technology, Qualcomm, Logan Capital Locations: India, China, Asia, Philadelphia, South Carolina . U.S, Dallas, East, Asia Pacific, Japan, Coles , U.S, U.S, IShares

☆ The Cost of Doing Business With China? A $40,000 Dinner With Xi Jinping Might Be Just the Start
▼ + stars: | 2023-11-28 | by ( Lingling Wei | Liza Lin | ) www.wsj.com time to read: 1 min

China’s President Xi Jinping met with the heads of American businesses in San Francisco earlier this month. Photo: Jeff Chiu/Associated PressBroadcom Chief Executive Hock Tan shelled out $40,000 to sit at Xi Jinping ’s table for the Chinese leader’s recent dinner in San Francisco with the heads of American businesses. Tan had a lot more at stake—a $69 billion deal he was waiting on China to approve. For months, Chinese regulators wouldn’t clear the U.S. chipmaker’s bid to buy enterprise software developer VMware, leading Broadcom to put off its date for completion of the deal—first announced in May 2022—three times. Intel’s planned acquisition of Israeli firm Tower Semiconductor , for more than $5 billion, was scuttled in August after Chinese regulators failed to approve it.

Persons: Xi Jinping, Jeff Chiu, Hock Tan, Jinping, Tan, — Organizations: Associated Press Broadcom, VMware, Broadcom, Tower Semiconductor Locations: San Francisco, China, Beijing

☆ Seth Klarman's Baupost bought 23 million shares of this data analytics stock last quarter
▼ + stars: | 2023-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Seth Klarman's Baupost Group snapped up millions of shares in a little-known data analytics stock in the third quarter, according to the latest regulatory fillings. The value-oriented, Boston-based hedge fund opened a 22.5-million share position in Clarivate Plc worth some $151 million in the third quarter, according to Baupost's 13F filing to the Securities and Exchange Commission. CLVT YTD mountain Clarivate shares this year Klarman picked up the stock as London-based Clarivate tumbled nearly 30% in the third quarter. Still, it's a relatively small position for Baupost, failing to crack the fund's top 10 holdings by dollar value, according to InsiderScore. The loss would be worse, but since the start of the fourth quarter, Dollar General is almost 15% higher.

Persons: Seth Klarman's Baupost, Klarman, Baupost, Willis, Watson Organizations: Securities and Exchange Commission, Jacobs Solutions, Semiconductor, Fidelity National, Viasat . Holdings, Amazon and Union Pacific Locations: Boston, Clarivate, London, Qorvo, Amazon

☆ Israel's Tower Semiconductor forecasts quarterly revenue decline, shares fall
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

The logo of Israeli analog integrated circuits developer, Tower Semiconductor is seen at their offices in Migdal HaEmek, northern Israel, February 28, 2022. REUTERS/Amir Cohen/File Photo Acquire Licensing RightsNov 13 (Reuters) - Israeli firm Tower Semiconductor forecast a decline in quarterly revenue on Monday as chip firms faced with a supply glut continue to correct inventory. Chip giant Intel (INTC.O) had terminated its plans to acquire Tower Semiconductor in August after it was unable to get timely regulatory approval from China for the $5.4 billion deal. Approval from Chinese competition regulators is needed if companies involved in a deal have a sizable business presence in the country. Tower reported revenue of $358.2 million for the quarter ended Sept. 30, a decline of about 16% from a year ago.

Persons: Amir Cohen, Arsheeya, Pooja Desai Organizations: Semiconductor, REUTERS, Tower Semiconductor, Intel, LSEG, Thomson Locations: Migdal HaEmek, Israel, automotives, China, Intel's New Mexico, Bengaluru

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

☆ Why the case for owning Broadcom is compelling with or without its $61 billion takeover of VMWare
▼ + stars: | 2023-10-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

Club holding Broadcom 's (AVGO) investment prospects look bright – with or without cloud software maker VMWare (VMW) under its corporate roof. For now, though, the companies remain apart after Broadcom's planned $61 billion takeover of VMWare did not close Monday, as previously scheduled. AVGO YTD mountain Broadcom YTD With VMWare, Broadcom would be a company with sales split roughly 50-50 between its traditional semiconductor division — an artificial intelligence beneficiary — and software, which typically is higher-margin revenue. Without VMWare, Broadcom would have freed up its capacity to reward shareholders in a different, but still meaningful, way. Even with the buyback silver lining, our hope is Broadcom completes the VMWare deal because it should boost Broadcom's earnings over time.

Persons: Broadcom's, CNBC's David Faber, Jim Cramer, Hock Tan, Jim, Broadcom's Tan, CNBC's Faber, There's, Jim Cramer's, Broadcom Lucas Jackson Organizations: Broadcom, VMWare, Club, Nvidia, Google, European Union, Financial Times, U.S, Intel, Semiconductor, Qualcomm, NXP Semiconductors, Microsoft, Activision, CNBC Locations: United Kingdom, Japan, Canada, China, California, Beijing

☆ Premarket stocks: What the Israel-Hamas war means for US markets
▼ + stars: | 2023-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Growing unrest in the Middle East has cast a shadow on global financial markets. Israeli stocks listed in New York and Tel Aviv have sunk to recent lows, underscoring the growing economic uncertainties in the war-torn region and leaving investors unsure of where markets go from here. Funds in the US hold more than $43 billion in Israeli stocks and bonds, according to a Bloomberg tracker. Big names, big exposure: As the war continues, businesses with headquarters, factories and inventory in Israel appear increasingly at risk to geopolitical turmoil. “If the war remains confined between Israel and Palestinians, it’s likely that the markets will forget about it after a few days,” he wrote.

Persons: ”, Steven Schoenfeld, Jamie Dimon, “, Benjamin Netanyahu, Raffi Boyadjian, Sam Stovall, Nathaniel Meyersohn, drugstores, David Silverman, Bill Ford, Vanessa Yurkevich, Ford, Jim Farley, Shawn Fain Organizations: CNN Business, Bell, New York CNN, Nasdaq, Funds, Bloomberg, Hamas, Bank of Israel, JPMorgan, Israel Innovative Technology, Mobileye, Tower Semiconductor, Teva Pharmaceutical, XM, CVS, Walgreens, Walmart, Fitch, Ford Motor Company, United Auto Workers, Big Three, UAW, Monday, Ford Locations: New York, Tel Aviv, New Jersey, Israel, United States, Canada, China, Ukraine, Kippur, Kuwait, Kansas City, drugstores, Rouge, Dearborn , Michigan

He said in the short-term resources could be diverted if the conflict expands, such as staff at tech companies being called up as military reservists. "They will probably increase the investment in AI," Krosby said. "It could bolster support for more financial resources for tech for the military, which then ultimately transitions to the private sector tech companies," Krosby added. The tech sector has shown resilience in the past, overcoming a number of conflicts with Hamas in Gaza. Apjit Walia the Managing Director at DVN Capital said the Israeli tech sector "has historically bounced back from geopolitical tragedies."

Persons: Amir Cohen, Israel, Jack Ablin, Quincy Krosby, Jensen Huang, Benjamin Netanyahu, LPL's Krosby, Krosby, DVN Capital, Max A, Cherney, Mica Rosenberg, Steven Scheer, Kenneth Li, Megan Davies, Jamie Freed Organizations: Intel, REUTERS, FRANCISCO, Tech, Hamas, Cresset Wealth, Financial, Intel Corp, Sunday, Nvidia, Tel, Semiconductor, Meta, Apple, Microsoft, IBM, Google, Facebook, DVN, Thomson Locations: Petah Tikva, Tel Aviv, Israel, JERUSALEM, Gaza, Charlotte , North Carolina, United States, Silicon Valley, Kiryat Gat, Apjit, Francisco, New York, Jerusalem

Oct 9 (Reuters) - Shares in U.S. and European-listed companies with business exposure to Israel fell on Monday on worries that an escalation in conflict with Palestinian Islamist group Hamas would impact their operations. Wall Street opened lower, while European stocks dipped as surging oil prices fanned inflation worries and investors fled to the safety of government bonds and the dollar. U.S. shares of Israeli chipmaker Tower Semiconductor fell 5.2%, while Intel (INTC.O) dipped 1.1% and Nvidia (NVDA.O) 2.1%, dragging the chip sector lower. U.S.-listed shares of Israel's Teva Pharmaceutical (TEVA.TA), the world's largest generic drugmaker, fell 3.3%, while those in fertilizer group ICL Group (ICL.TA) dipped 1.4%. U.S. exchange-traded funds exposed to Israel such as the iShares MSCI Israel ETF and the ARK Israel Innovative Technology ETF fell 6.6% and 4.4%, respectively.

Persons: Benjamin Netanyahu, Raffi Boyadjian, Energean, Adani Ports, Danilo Masoni, Sruthi Shankar, Amanda Cooper, Deborah Kyvrikosaios, Arun Koyyur Organizations: Palestinian, Semiconductor, Intel, Nvidia, Energy, Tel Aviv ., U.S, Cruise Line Holdings, Royal Caribbean Group, XM, Israel's, ICL, ARK Israel Innovative Technology, Adani, Thomson Locations: Israel, Tel Aviv, Saudi Arabia, Gaza, London, India, Adani, Haifa Port, Northern Israel

☆ Israel markets sink, businesses shut after Hamas attack
▼ + stars: | 2023-10-08 | by ( Steven Scheer | ) www.reuters.com time to read: +4 min

A building is ablaze following rocket attacks from the Gaza Strip, in Tel Aviv, Israel October 7, 2023. Israel has retaliated with air strikes on Hamas targets in Gaza. Gaza militants also fired thousands of rockets into Israel, some reaching as far as Tel Aviv, prompting airlines to suspend flights to and from Israel. Air India said flights to and from Tel Aviv would be suspended until Oct. 14. "We are closely monitoring the situation in Israel and taking steps to safeguard and support our workers," a spokesman said.

Persons: Ron, Jonathan Katz, Bezalel Smotrich, Arkia, Israir, Jensen Huang, Ron Tomer, Steven Scheer, Bernadette Baum Organizations: REUTERS, Rights, Key Tel, Capital Markets, Bank of Israel, Hamas, Israel . Finance, Bank, Israel, AIR, Delta Air Lines, United Airlines, Nvidia, Tel, Manufacturers, Association, Intel Corp, Tower Semiconductor, Thomson Locations: Gaza, Tel Aviv, Israel, Key, Key Tel Aviv, New York, Atlanta, TLV, India, Athens, Larnaca, Cyprus

Reliance, whose interest in making semiconductors has not been previously reported, did not respond to repeated requests for comment. India's IT ministry and Prime Minister Narendra Modi's office also did not respond to requests for comment. The country does not as yet have any chip manufacturing plants, although India's Vedanta (VDAN.NS) and Taiwan's Foxconn (2317.TW) are both looking at building facilities. India's government has forecast the domestic chip market will be worth $80 billion by 2028 compared with $23 billion currently. But chip manufacturing is an industry that has historically been beset with boom and bust cycles and requires much expertise.

Persons: Amit Dave, Mukesh, Narendra Modi's, Modi, Vedanta, Taiwan's Foxconn, Arun Mampazhy, –, Foxconn, Munsif Vengattil, Aditya Kalra, Edwina Gibbs Organizations: Reliance Industries, Gujarat Global Trade, REUTERS, Reliance, Google, U.S, Vedanta, Ventures, Semiconductor, Intel, Orbit Ventures, Thomson Locations: Gujarat, Gandhinagar, India, DELHI, Abu Dhabi

☆ Intel to offer foundry services to Tower Semiconductor after acquisition deal falls through
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO: Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsSept 5 (Reuters) - Intel (INTC.O) will offer foundry services to Tower Semiconductor (TSEM.TA) in a new deal that will see the Israeli contract chipmaker invest $300 million in Intel's New Mexico factory, the companies said on Tuesday. "We see this as a first step towards multiple unique synergistic solutions with Intel," Tower CEO Russell Ellwanger said. The deal also strengthens Intel's foundry capacity as it advances on rivals such as industry leader Taiwan Semiconductor Manufacturing Co. In the second quarter, Intel's foundry business reported revenue of $232 million, up from $57 million a year earlier.

Persons: Dado Ruvic, Russell Ellwanger, Yuvraj Malik, Shweta Agarwal Organizations: Semiconductor, REUTERS, Intel, Tower Semiconductor, Taiwan Semiconductor Manufacturing, Thomson Locations: Intel's New Mexico, China, New Mexico, Ohio, Bengaluru

☆ Intel’s Tower deal sidesteps competition snafu
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

On Tuesday, $155 billion chip giant Intel (INTC.O) inked a new partnership with Tower Semiconductor (TSEM.TA), which Intel boss Pat Gelsinger recently gave up on acquiring for $5 billion. The deal will see Tower spend $300 million on equipment at Intel’s New Mexico campus, bolstering Gelsinger’s nascent chip-manufacturing-for-hire services. Intel ended its year-and-a-half-long quest to acquire Tower in August, after failing to win sign-off from Chinese antitrust enforcers. Signed in February 2022, the deal was aimed at strengthening Intel’s pivot into manufacturing chips designed by others by bringing in Tower’s know-how. By signing up Tower as a partner, Gelsinger wins a chunk of its business without the trouble of competition roadblocks.

Persons: Pat Gelsinger, Gelsinger, Jonathan Guilford, Hong Kong, Lauern Silva Laughlin, Sharon Lam Organizations: Intel, Reuters, Tower Semiconductor, Intel’s, X, Hong, Thomson Locations: Las Vegas , Nevada, U.S, Mexico, Tower’s

☆ US Commerce chief raised Micron, Intel with Chinese officials
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/2] A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBEIJING, Aug 28 (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Monday that she raised concerns about a number of U.S. business issues including Intel (INTC.O) and Micron (MU.O) with Chinese Commerce Minister Wang Wentao. Raimondo in May said the United States "won't tolerate" China's effective ban on purchases of Micron Technology (MU.O) memory chips and is working closely with allies to address such "economic coercion." Raimondo announced earlier on Monday that China had agreed to create a new formal working group on commercial issues with the United States. The new commercial issues working group is a consultation mechanism involving U.S. and Chinese government officials and private sector representatives "to seek solutions on trade and investment issues and to advance U.S. commercial interests in China."

Persons: Dado Ruvic, Gina Raimondo, Wang Wentao, Raimondo, Wang, May, David Shepardson, Jason Neely, Mark Potter Organizations: REUTERS, Rights, . Commerce, Intel, Micron, Chinese Commerce, Micron Technology, Tower Semiconductor, China's, Administration, Market, Thomson Locations: Rights BEIJING, China, United States

And that $1 trillion of data centers is in the process of transitioning into accelerated computing and generative AI. Additionally, Nvidia announced AI-ready servers to support the VMware Private AI Foundation and help businesses customize and deploy generative AI applications using their proprietary data. Shares of AMD have also surged higher in this year's AI trade, though the role the company plays in the field is less clear. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jensen Huang, Huang, ChatGPT, Nvidia's Huang, It's, We've, Grace Hopper Superchip, it's, hyperscalers, Jim Cramer, Jim, Eduardo MunozAlvarez Organizations: Broadcom, Jim Cramer's Charitable Trust, Devices, AMD, Moore's, Microsoft, Broadcom's, VMWare, VMware, Nvidia, AI Foundation, U.S . Federal Trade Commission, Intel, Tower Semiconductor, ARM, CNBC, View, Getty Locations: China

☆ Intel calls off $5.4 billion Tower Semiconductor deal after failing to get regulatory approval
▼ + stars: | 2023-08-17 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Intel has pulled out of a major acquisition of an Israeli chipmaker after failing to obtain the required regulatory approval. The US tech giant said in a Wednesday statement it would scrap its planned $5.4 billion purchase of Tower Semiconductor (TSEM), saying it had not received the necessary sign-off from regulators in time. While Intel (INTC) did not specifically mention which jurisdiction it was waiting on, it had previously outlined efforts to clear the deal with authorities in China. Both Intel and Tower said in their respective statements that the deal had been canceled based on mutual agreement. To walk away, Intel will now pay Tower a termination fee of $353 million, the California-based company said in the statement.

Persons: Pat Gelsinger, ” Gelsinger, Joe Biden, won’t, Gelsinger, Russell Ellwanger, ” Organizations: Hong Kong CNN, Intel, Tower Semiconductor, Financial Times, Administration of, CNN, Companies, Tower’s Nasdaq Locations: Hong Kong, China, United States, Europe, Asia, California, New York

☆ China Torpedoes Intel’s Bid to Buy Israeli Chip Maker Tower Semiconductor
▼ + stars: | 2023-08-16 | by ( Dan Strumpf | Yang Jie | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. Last year, DuPont De Nemours Inc (DD.N) scrapped its $5.2 billion deal to buy electronics materials maker Rogers Corp (ROG.N) after delays in securing approval from Chinese regulators. But Gelsinger also said Intel was investing in its foundry business, which makes chips for other companies, irrespective of the Tower deal. Investors had given up hope on the Tower deal as a result. It has committed to trimming $3 billion in costs this year, with an aim of saving between $8 billion and $10 billion by the end of 2025.

Persons: Dado Ruvic, Pat Gelsinger, Gelsinger, Benjamin Netanyahu, Anirban Sen, Max Cherney, Jamie Freed Organizations: Semiconductor, REUTERS, Intel Corp, chipmaker, Intel, State Administration, Market, DuPont De Nemours Inc, Rogers Corp, Investors, Nasdaq, Taiwan Semiconductor Manufacturing, Thomson Locations: China, United States, Taiwan, Israel, New York, San Francisco

☆ 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

☆ Intel terminates plan to buy Tower Semiconductor
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

Tower Semiconductor is seen on smartphone in this illustration taken, February 15, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAug 16 (Reuters) - Intel (INTC.O) said on Wednesday it has terminated its plans to acquire Israeli contract chipmaker Tower Semiconductor (TSEM.TA) as it was unable to get timely regulatory approvals for the $5.4 billion deal. Intel, which signed a deal to buy Tower last year, will pay a termination fee of $353 million to the latter, according to a statement. Intel, however, did not mention the details about the regulatory approvals. Reporting by Anirudh Saligrama in Bengaluru; Editing by Savio D'Souza and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Anirudh, Savio D'Souza, Nivedita Organizations: Semiconductor, REUTERS, Intel, chipmaker, Reuters, Thomson Locations: Bengaluru

China has effectively scuttled a $5.4 billion deal by Intel, the Silicon Valley semiconductor giant, in the latest sign of the frayed business ties between China and the United States. Intel, which has long had operations in China, said Wednesday that it had “mutually agreed” to terminate a planned merger with Tower Semiconductor, an Israeli chip manufacturer. The announcement came after China’s antitrust regulators failed to rule on the transaction before a deadline set by the companies. The planned merger, announced in February 2022, passed antitrust reviews in the United States and Europe. But it ran into a lengthy delay in China, where regulators review mergers of companies that earn a certain amount of revenue in the country.

Organizations: Intel, Tower Semiconductor Locations: China, United States, Europe

☆ Here are 17 stocks Jim Cramer is watching, including Home Depot, Exxon and Intel
▼ + stars: | 2023-08-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +2 min

Datadog (DDOG) price target raised to $133 from $127 at Bernstein, consensus could go higher. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Frank Slootman, Bernstein, JD.com, Cowen, BTIG, Marcus Hook, Jim Cramer's, Jim Cramer, Jim, Matt Stone Organizations: Mizuho . Company, Intel, Tower Semiconductor, Exxon, Mizuho, Sea, Chevron, National Futures Association, Energy, Crestwood, Jim Cramer's Charitable, CNBC Locations: China, Rockland , Massachusetts

☆ Intel scraps $5.4 billion acquisition of Tower Semiconductor after regulators fail to approve deal
▼ + stars: | 2023-08-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Intel on Wednesday terminated its acquisition of Israeli chipmaker Tower Semiconductor, saying it failed to secure the required regulatory approval. Intel will pay a termination fee of $353 million to Tower. Intel announced intentions to buy Tower — a contract chipmaker that manufactures semiconductors for other companies — in February 2022 for $5.4 billion. Tower Semiconductor's Israel-listed shares were down 8% around 4:18 a.m. Reuters, citing people familiar with the matter, reported Tuesday that Intel did not secure approval for the deal from the Chinese authorities before a crucial deadline passed.

Organizations: Intel, Semiconductor, Reuters Locations: Semiconductor's Israel

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Wall Street closed sharply lower on Tuesday after solid retail sales growth in July added to uncertainty around the interest rate outlook, with concerns over a possible downgrade of several U.S. lenders by Fitch further denting risk sentiment. Investors are now focused on the Federal Reserve's July 25-26 meeting minutes, due at 1400 ET (1800 GMT), which may indicate how many policymakers feel the U.S. central bank is done raising interest rates. The central bank had raised rates by 25 basis points at the end of the meeting. Coinbase(COIN.O) gained 5.4% as the crypto exchange secured regulatory approval to allow U.S. retail customers to trade crypto futures.

Persons: Brendan McDermid, Piper Sandler, Fitch, Michael Hewson, Tesla, Amruta Khandekar, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nvidia, Dow, Nasdaq, Federal, Target, Traders, Committee, CMC Markets, Walmart, Dow e, Tower Semiconductor, Intel, Thomson Locations: New York City, U.S, China, Bengaluru

☆ Stocks making the biggest moves midday: Target, Cava, TJX Companies, Intel and more
▼ + stars: | 2023-08-16 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Target — Target shares added 2.9% even after the retailer cut its full-year earnings forecast and second-quarter sales fell short of expectations. Wall Street analysts surveyed by Refinitiv had expected earnings of $1.39 per share on $25.16 billion in revenue. TJX reported adjusted earnings of 85 cents per share on $12.76 billion in revenue, while analysts surveyed by Refinitiv expected 77 cents earned and $12.45 billion in revenue. The manufacturer of lasers and optics forecast earnings of 5 cents to 20 cents per share and revenue of $1 billion to $1.1 billion. Analysts polled by FactSet called for 47 cents per share in earnings and revenue of $1.16 billion.

Persons: Refinitiv, Coinbase, TJX, FactSet, JD.com, Dr Pepper, Agilent, Jack Henry, Mercury, Cava — Cava, Jack, Wells, Morgan Stanley, Imperial, Shawn Fain, —, Sarah Min, Samantha Subin, Michelle Fox, Jesse Pound Organizations: —, Wall Street, National Futures Association, Commodity Futures Trading Commission, TJX, Nasdaq, UBS, Block, Wall, Associates, Mercury Systems, GE, GE HealthCare, News, Getty, Imperial Capital, Intel, Tower Semiconductor, Semiconductor, General Motors —, United Auto Workers, Big, General Motors, Ford Motor Locations: JD.com —, Cava

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