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DuPont scraps $5.2 bln Rogers buyout due to China hurdles
  + stars: | 2022-11-02 | by ( ) www.reuters.com   time to read: +2 min
DuPont said the termination of the deal was agreed with Rogers as they have been unable to obtain timely clearance from all the required regulators. Shares of engineering materials maker Rogers plunged 43% in extended trading on Tuesday, while those of DuPont rose about 6%. The collapsed Rogers deal is the most prominent global acquisition to be called off in four years due to Chinese regulatory hurdles. In 2018, Qualcomm Inc (QCOM.O) walked away from a $44 billion deal to buy NXP Semiconductors (NXPI.O) after failing to secure Chinese regulatory approval amid China-U.S. trade tensions. DuPont added it would pay Rogers a termination fee of $162.5 million.
Semiconductor companies are also in the news a lot lately, whether it's the U.S. government cracking down on chip exports to China or innovations in connected cars and artificial intelligence. Since these companies don't need to invest in expensive fabrication facilities, they can run a more agile asset-light business model. Memory : The two main categories of memory chips are NAND and DRAM. Examples include those used for 5G, WiFi, Bluetooth, radiofrequency chips, near field communication chips (NFC), application-specific integrated circuit chips (ASICs), and so on. These chips are made by companies like Qualcomm, Marvell Technology, Broadcom (AVGO), ON Semiconductor, NXP Semiconductor (NXPI), and others.
Earnings Exchange: NXPI, UBER & PFE
  + stars: | 2022-10-31 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings Exchange: NXPI, UBER & PFEJeff Kilburg, KKM Financial CEO, joins ‘The Exchange’ to discuss three stocks ahead of earnings: NXP Semiconductors, Uber and Pfizer.
Those planning for more disruption should prioritize stocks with a decent dividend yield and, perhaps more importantly, dividend growth. "In the mid-1970s, high dividend yield stocks struggled to compete with rising cash yields and lagged the S & P 500," Kostin said. Goldman recommends its recently refreshed basket of dividend growth stocks. Verizon Communications carries the highest dividend yield on the list, at 7%, with dividend growth of 2%. NXP Semiconductors and Microchip Technology have some of the fastest dividend growth for the sector, at 22% each.
Investors looking to play stocks around corporate earnings reports are generally looking for companies that have a solid track record of beating expectations and seeing shares rise on results. The stocks to watch Two notable companies are slated to report results early in the week. The company has a solid track record of beating earnings and sales expectations, which it's done 64% and 79% of the time, according to Bespoke. Generac , which will report the same day, beats earnings and sales expectations 88% and 85% of the time. The marketing software developer also has a 100% earnings expectations beat rate, according to Bespoke.
The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.
The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Here are Monday's biggest calls on Wall Street: Jefferies downgrades Williams-Sonoma to underperform from hold Jefferies said it's concerned about a softer macro environment. Wells Fargo reiterates Disney as overweight Wells said it continues to like the stock heading into earnings in early November. " Bank of America downgrades Meta to neutral from buy Bank of America said it's concerned about an ad spending slump heading into earnings later this week. Mizuho reiterates Coinbase as neutral Mizuho said it's staying neutral on Coinbase as losses continue to "linger" on the company's platform. Bank of America reiterates Apple as neutral Bank of America said it sees a balanced risk-reward heading into Apple earnings later this week.
There are better names off the bottom in semiconductor stocks than Analog Devices , according to Barclays. Analyst Blayne Curtis downgraded shares of Analog Devices to equal weight from overweight, and lowered the price target, saying the semiconductor stock has yet to price in a correction. The analyst cut the price target to $140 from $180. The new price target is 4.5% below where shares closed Friday at $146.59. The analyst downgraded shares of other semiconductor stocks NXP Semiconductors and Qorvo to equal weight.
In the previous session, the S & P 500 reached a new bear market low of 3,623.29, indicating that stocks could still have further to fall. Investors wanting to counter the market turbulence with income can look to stocks with high dividend yield and growth. Goldman Sachs has a basket of cheap stocks, with a median dividend yield of 3.4%, compared to the S & P 500's 1.8%. That's followed closely by Ford Motor, which has a 3.4% dividend yield, and projected growth of 100%. Among financials, Morgan Stanley has the fastest projected dividend growth at 21%.
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