DIRS.INFO The most relevant business & tech news

The Supreme Court on Wednesday rejected an attempt by Children's Health Defense, the anti-vaccine group founded by Robert F. Kennedy Jr., to protect doctors being investigated in Washington state for allegedly spreading misinformation about the Covid-19 virus. The emergency application was denied by Justice Elena Kagan on behalf of the court. Circuit Court of Appeals, declined to impose injunctions blocking investigations led by the Washington Medical Commission. The Supreme Court did not ask the state to file a response to the application, suggesting that it was deemed lacking in legal merit. Two doctors subject to investigations, Richard Eggleston and Thomas Siler, had joined Kennedy's group in asking the court to weigh in.

Persons: Robert F, Kennedy Jr, Elena Kagan, ” Rick Jaffe, Kennedy, Donald Trump, Richard Eggleston, Thomas Siler, Eggleston, Siler Organizations: Children's Health Defense, Department of Health, Human Services, Circuit, Washington Medical Commission Locations: Washington, San Francisco

☆ Activist Jana Partners calls for a strategic review at Wolfspeed. Here’s how it may develop
▼ + stars: | 2024-04-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. Wolfspeed is the world's leading producer of silicon carbide, or SiC, and a manufacturer of silicon carbide applications. Jana also recommends that the board commences a review of strategic alternatives, including a possible sale of the company. At Freshpet, Jana also made operational and capital allocation recommendations in addition to reviewing a sale of the company. Here, there has been no such mention of a "Jana Dream Team," but it is a little too early for that.

Persons: Jana, Barry Rosenstein, Rosenstein, John Palmour, Wolfspeed, Renesas, Ken Squire Organizations: John Palmour Manufacturing, Silicon Carbide, Mitsubishi Electric, 13D Locations: Siler City, N.C, Marcy, N.Y, North Carolina, Mohawk, New York, Germany, Freshpet

☆ Activist investor Jana discloses 'significant' stake in Wolfspeed, urges semiconductor manufacturer to consider sale
▼ + stars: | 2024-04-22 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Jana Partners disclosed in a letter Monday that it has built a "significant" position in semiconductor manufacturer Wolfspeed and urged the company to resolve what it called a "staggering erosion of shareholder value," up to and including a sale. In the letter to Wolfspeed's board, viewed by CNBC, Jana wrote that the semiconductor company's "differentiated manufacturing capabilities" and status as an "American supplier supporting the energy transition" gave it significant intrinsic value. Jana also wrote that management's missteps around capital allocation, execution and strategy had depressed the stock. Wolfspeed, formerly known as Cree, is a supplier of electronic components and semiconductors used to manage electricity, often in cars. Jana said Wolfspeed's board should "promptly" begin a comprehensive review of the business, up to and including a sale.

Persons: Scott Ostfeld, Jana Partners, Jana, Wolfspeed, Barry Rosenstein, Kif Leswing Organizations: JANA Partners, CNBC, Reuters, TSR, Qualcomm, Trimble Locations: New York City, U.S, Mohawk Valley, Siler City, Freshpet ,

☆ Chip firm Wolfspeed's shares tank on disappointing forecast
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Its shares fell 14% in extended trading on Wednesday, after the company also forecast quarterly revenue below market estimates. It expects adjusted loss per share to be between 60 cents and 75 cents in the first quarter, compared with analysts' estimate of a 29-cent loss, according to Refinitiv data. The midpoint of its quarterly revenue forecast of $220 million to $240 million was also below expectations of $233.2 million. But "it will be the second half of calendar year 2024 before we see $100 million of quarterly revenue from the fab that the 20% utilization would represent." The company's quarterly adjusted loss per share was 42 cents, compared with a 20-cent loss estimate.

Persons: Wolfspeed, Neill Reynolds, Zaheer Kachwala, Shilpi Majumdar Organizations: Thomson Locations: Siler City, Durham , North Carolina, Mohawk Valley, Bengaluru

☆ The Maui Fire Spared Lahaina’s Banyan Tree - The New York Times
▼ + stars: | 2023-08-14 | by ( Julia Flynn Siler | ) www.nytimes.com time to read: +1 min

The historic Hawaiian port town’s massive Banyan tree — standing over 60 feet tall with a canopy that has grown to cover more than half an acre — has been the backdrop for endless selfies. Lahaina’s Ficus benghalensis, or banyan fig, burst into flames in the massive wildfire that killed at least 90 people and turned countless buildings into char. Weighed against the horrific loss of lives and the nearly complete destruction of a town, the potential loss of a single, gigantic tree may seem trivial. But this magnificent specimen, believed to have been the largest tree in the Hawaiian Islands, has touched the hearts of many in Hawaii and elsewhere. The fact that the tree is charred but still standing offers us the hope of both the tree and the town’s eventual revival.

Persons: It’s Locations: Lahaina, Hawaiian, Hawaii

☆ Chipmaker Wolfspeed secures $1.25 bln in debt funding led by Apollo Global
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

June 26 (Reuters) - Wolfspeed (WOLF.N) said on Monday that a group led by Apollo Global Management (APO.N) would make a debt investment of $1.25 billion in the chipmaker, with room for an additional $750 million, to support its U.S. expansion. Wolfspeed CEO Gregg Lowe said the financing would help "scale up near-term operations at our Mohawk Valley Fab and construction of our Siler City materials facility to help us capture the growing silicon carbide market opportunity." The company in September last year had announced a multi-billion-dollar investment in a factory in Chatham County, North Carolina to make raw materials for chips that power electric vehicles, among other things. The company has the option to pay the debt early, Wolfspeed said. (This story has been refiled to add dropped word in the headline)Reporting by Jaspreet Singh in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Gregg Lowe, Wolfspeed, Jaspreet Singh, Vinay Dwivedi Organizations: Apollo Global Management, Thomson Locations: Siler City, Chatham County , North Carolina, Bengaluru

Search resuls for: "Siler"

6 mentions found