The Market News Reel for this week! Get the most important market news & updates for the week ahead! Major headlines, excerpts from news sources and a link to the full article are shown below. "Breaking Thoughts" section is purely our opinion.
Intel to Buy Tower Semiconductor for $5.4B
"Intel Corp. agreed to acquire Tower Semiconductor Ltd. for about US$5.4 billion, part of Chief Executive Officer Pat Gelsinger’s push into the outsourced chip-manufacturing business.
Intel will pay US$53 per share in cash for Tower, according to a statement Tuesday. The offer represents a 60 per cent premium to Tower’s closing share price in U.S. trading on Monday. The companies’ boards have approved the transaction, which they expect will close in about 12 months.
Shares of Tower rose 42 per cent in New York on Tuesday while Intel gained 1.4 per cent.
Gelsinger, who took the CEO job a year ago, is betting he can compete with Taiwan Semiconductor Manufacturing Co. in the chip-foundry market -- the contract manufacturing of semiconductors for other companies. His comeback plan for Intel involves modernizing its factories and building new ones aimed at restoring its leadership in chip technology. " - read more on BNN Bloomberg here
Major Earnings This Week
Tuesday February 15:
AirBNB (ABNB): Expected Q4 earnings of $0.03 per share
Roblox (RBLX): Expected Q4 earnings of $-0.13 per share
Yandex (YNDX): Expected Q4 earnings of $7.28 per share
Wednesday February 16:
DoorDash (DASH): Expected Q4 earnings of $-0.25 per share
NVIDIA (NVDA): Expected Q4 earnings of $1.22 per share
Shopify (SHOP): Expected Q4 earnings of $1.27 per share
Thursday February 17:
Palantir Technologies (PLTR): Expected Q4 earnings of $0.04 per share
Roku (ROKU): Expected Q4 earnings of $0.07 per share
Shake Shack (SHAK): Expected Q4 earnings of $-0.18 per share
Walmart (WMT): Expected Q4 earnings of $1.50 per share
Major IPOs Expected This Week
Friday February 15:
Cariloha (ALOHA), a sustainable home goods company seeks to raise up to $33M at a $511M valuation d
Friday February 16:
Smart for Life (SMLF), a nutritional supplement company seeks to raise up to $20M at a $226M valuation
See you next week!
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