On Thursday, in the course of current trade, Shares of Applied Materials, Inc. (NASDAQ:AMAT), dropped -0.52%, and is now trading at $19.93.
Applied Materials, declared that its Board of Directors has elected Willem P. Roelandts as chairman effective right away. Mr. Roelandts succeeds Michael R. Splinter, who has stepped down from the board.
Mr. Roelandts is presently Applied Materials` lead independent director and has served on the board since 2004. A highly respected leader in the semiconductor industry, he was president and chief executive officer of Xilinx, a supplier of programmable logic solutions, from 1996 to 2008 and chairman of the board of directors of Xilinx from 2003 to 2009. Preceding to joining Xilinx, Mr. Roelandts spent 29 years at Hewlett-Packard Company.
“Applied Materials is a Silicon Valley pioneer that is at the forefront of enabling the future of electronics and it is an honor to be selected to lead the board as chairman,” said Mr. Roelandts. “Together with all of the directors, I would like to express our appreciation to Mike for his service and achievements, in addition to our admiration for his integrity, drive and pursuit of excellence.”
Mr. Splinter served as chief executive officer of Applied Materials from 2003 to 2013 and as chairman of the board since 2009. Mr. Splinter is a 40-year veteran of the semiconductor industry and led Applied Materials to record revenue and profits during his decade-long tenure as CEO. He is the recipient of the Semiconductor Industry Association`s 2013 Robert N. Noyce Award for his outstanding achievements and leadership.
Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, flat panel display, solar photovoltaic (PV), and related industries worldwide. The company’s Silicon Systems Group segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
During Morning trade, Shares of GoPro, Inc. (NASDAQ:GPRO), dipped -2.40%, and is now trading at $56.52, as Citigroup Inc. cut its earnings forecast for the maker of wearable cameras, reigniting concerns that it may be a single-product company.
Fewer U.S. consumers plan to buy a GoPro device in the next year, Citigroup analysts led by Jeremy David wrote in a note Wednesday, citing a survey. The growing popularity of drones may eat into sales of GoPro’s flagship action camera, according to the analysts, who lowered their estimate for earnings per share this year to $1.55 from $1.66, according to Bloomberg.
“The faster the growth of the drone category, the higher the risk of a slowdown in the action camera category,” said David, who reiterated a neutral recommendation on the stock.
GoPro, Inc. develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing, and enjoying engaging content. The company offers HERO line of capture devices, such as cameras; premium accessories, counting battery BacPac, smart remote, and LCD touch BacPac accessories.
Finally, Staples, Inc. (NASDAQ:SPLS), showed no change, Thursday.
On June 5, Staples, declared that it has received clearance from the Commerce Commission of New Zealand to acquire all the outstanding shares of Office Depot, which trades in New Zealand as OfficeMax. Staples continues to work with regulatory agencies in the United States, the European Union, Canada, Australia, and China.
“We’re happy that the Commerce Commission of New Zealand has approved this transaction,” said Ron Sargent, Chairman and Chief Executive Officer, Staples. “We continue to work closely with regulatory agencies around the world and expect the transaction to be accomplished by the end of the year. The combined company will enable Staples to provide more value to customers, and more effectively compete in a rapidly evolving competitive environment.”
Staples, Inc., together with its auxiliaries, operates office products superstores. It operates through three segments: North American Stores & Online, North American Commercial, and International Operations. The company offers a range of office supplies, business technology products and services, facility and breakroom supplies, computers and mobility products, and office furniture under the Staples, Quill, and other proprietary brands.
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