On Friday, Shares of Avago Technologies Ltd (NASDAQ:AVGO), gained 0.97% to $123.33.
If there were ever a time for a chipmaker to try to sell itself, it’s now, according to Bloomberg.
PMC-Sierra, a floundering chipmaker based in California, has hired a financial adviser to find a suitor, Bloomberg’s Alex Sherman, Ian King and Matthew Campbell stated Thursday. The company is valued at $1.4 billion.
This comes as chip, or semiconductor, mergers have surged to rarefied levels. The $74 billion worth of transactions already trumps the amount in the past four years combined. One merger — Avago Technologies and Broadcom, worth about $30 billion at the time of declarement — set a record for the entire technology industry.
Of course, this late in the game, the list of potential PMC acquirers is shorter than it once was. Avago has barely started to digest its big deal. NXP Semiconductors said in March that it is buying Freescale for about $16 billion, counting net debt, so cross that one off. And Intel, the somewhat deal-shy industry heavyweight, made a $14 billion acquisition of Altera in June.
But it’s not a waste of effort to have some bankers search around and see if its shareholders could get a takeover premium. It’s better than watching the stock fall, as it has been. Bloomberg Reports
Avago Technologies Limited designs, develops, and supplies semiconductor devices with a focus on analog III-V based products. The company operates through four segments: Wireless Communications, Wired Infrastructure, Enterprise Storage, and Industrial & Other segments.
Shares of Altria Group Inc (NYSE:MO), inclined 1.17% to $54.85, during its last trading session.
Shares of Altria Group (NYSE:MO) have been given a Buy-Sell rating of 1.88 by Zacks Research. This is based on 5 analyst reports taken into consideration. Brokerage research firms often use different terminology for their stock recommendations. In order to get a simplified consensus recommendation, Zacks uses a simplified 1 to 5 scale in order to obtain an Average Broker Rating. 1 represents a Strong Buy recommendation where 5 a Strong Sell. Stocks with a low rating means they are a Buy or Strong Buy based on analyst consensus opinion. A stock with a higher rating (3-5) yields an average recommendation of Hold, Sell or Strong Sell. Three months ago the stock had a 1.88 rating, which gives an idea of which direction sentiment is headed.
Taking a look at price target projections, covering sell-side analysts have placed a one year objective of $58.6 on a consensus basis. The projections range from the most bullish number of $60 to the most conservative of $56.
Altria Group, Inc., through its auxiliaries, manufactures and sells cigarettes, smokeless products, and wine in the United States and internationally. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, Husky, and Marlboro Snus brand names.
At the end of Friday’s trade, Shares of EOG Resources Inc (NYSE:EOG), gained 4.74% to $77.08.
EOG Resources, has declared a dividend of $0.1675 per share on EOG’s Common Stock, payable October 30, 2015, to stockholders of record as of October 16, 2015. The indicated annual rate is $0.67.
EOG Resources, Inc. is one of the largest independent (non-integrated) crude oil and natural gas companies in the United States with proved reserves in the United States, Canada, Trinidad, the United Kingdom and China. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol “EOG.”
EOG Resources, Inc., together with its auxiliaries, explores for, develops, produces, and markets crude oil and natural gas. The company’s principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and Canada, Trinidad, the United Kingdom, and China.
Finally, American Eagle Outfitters (NYSE:AEO), ended its last trade with 1.19% gain, and closed at $15.70.
Bright Pink, the only national non-profit organization focusing on the prevention and early detection of breast and ovarian cancer in young women, is proud to declare an integrated initiative with Aerie, the intimates and apparel line from American Eagle Outfitters, Inc. in support of Breast Cancer Awareness Month. Aerie will offer a Bright Pink Limited Edition Bralette with 100% of sales benefitting Bright Pink, in addition to customer fundraising opportunities. This will mark the sixth successive year for the partnership and will run both in-store and online from October 1st, 2015 – October 22nd, 2015.
In addition, Aerie will introduce several opportunities for customers to assist aid the cause, counting inviting shoppers to donate to Bright Pink by rounding up their in-store purchase totals and offering a free gift of a bracelet with a donation of $5 or more. The aim of the partnership is to spark the conversations around the importance of breast health awareness starting at a young age and raise funds to fuel Bright Pink’s life-saving education and support programs.
American Eagle Outfitters, Inc. operates as a retailer of apparel and accessories in the United States and internationally. The company’s stores offers denims, pants, shorts, sweaters, fleece, outerwear, graphic T-shirts, footwear, and accessories for 15 to 25 year old men and women under the American Eagle Outfitters brand name; and intimates and personal care products for women the aerie brand name.
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