On Friday, Shares of Cypress Semiconductor Corporation (NASDAQ:CY), lost -1.64% to $10.20.
Cypress Semiconductor Corp., declared that it accomplished the divestiture of its TrueTouch mobile touch screen business to Parade Technologies, Ltd. (Taipei Exchange: 4966.TWO), a leading supplier of video displays and interface ICs headquartered in Silicon Valley. The divestiture, which was accomplished as predictable on July 31, 2015, will enable Cypress to continue its focus on embedded automotive and industrial markets. Under the terms of the deal, Cypress will continue to provide TrueTouch capacitive touch screen solutions to automotive, industrial and home appliance customers. The $100 million cash consideration from the deal will accelerate the capacity for shareholder returns.
In conjunction with the divestiture, Cypress declared revised non-GAAP expectations for its third-quarter financial results. The company now anticipates revenue in the range of $470 million to $490 million, operating expenses in the range of $133 million to $135 million, and earnings per share (EPS) in the range of $0.15 to $0.18.
Cypress Semiconductor Corporation provides mixed-signal programmable solutions, semiconductor memories, and integrated semiconductor solutions worldwide. The company’s Memory Products division designs and manufactures static random access memory (SRAM) products and nonvolatile RAMs used to store and retrieve data in networking, wireless infrastructure and handsets, computation, consumer, automotive, industrial, and other electronic systems; and general-purpose programmable clocks.
Shares of Leucadia National Corp. (NYSE:LUK), inclined 1.35% to $23.35, during its last trading session.
Leucadia National Corporation, declared its financial results for the three and six-month periods ended June 30, 2015. Adjusted net income attributable to Leucadia National Corporation common shareholders, which excludes the operating results of Jefferies’ Bache business, was $42.3 million, or $0.11 per diluted share, for the second quarter, and $430.1 million, or $1.12 per diluted share, for the six months ended June 30, 2015. Counting the results of the Bache business, net income attributable to Leucadia National Corporation common shareholders was $16.4 million, or $0.04 per diluted share, for the second quarter, and $397.2 million, or $1.04 per diluted share, for the six months ended June 30, 2015.
Financial Services Businesses
Jefferies stated strong second quarter revenues, with investment banking revenues in excess of $400 million, an enhance of 49% contrast to this year’s first quarter and 22% as compared to the second quarter last year. Equity net revenues were also strong, and Fixed income net revenues, not taking into account Bache, reflected a 56% enhance over the slow first quarter.
In April, Jefferies agreed with Societe General S.A. to transfer certain of the client activities of its Bache business. During the second quarter, Jefferies transferred about 50% of Bache’s client accounts to Societe General S.A. and other brokers, and anticipates to be substantially complete by the end of the summer.
We continued to experience good progress in the development of our various asset administration platforms. Launched in March 2015, Folger Hill continued to grow assets under administration and add quality portfolio managers, and is now poised to fully implement its investment strategy. Despite choppy markets due to developments in China and Greece, Topwater extended its streak of positive months to 20, showcasing the value of its first-loss model. Mazama also performed well, particularly relative to its peers, and has seen some traction in its fundraising efforts. The Planned Investment Division, with its flagship Structured Alpha fund, produced positive results in the first half and is considering ways to expand its suite of systematic trading strategies.
Leucadia National Corporation, through its partner, Jefferies Group LLC, primarily operates in the investment banking and capital markets sector. Leucadia National Corporation also owns and holds investments in various other businesses, counting beef processing, manufacturing, energy projects, asset administration, and real estate.
Finally, Embraer SA (ADR) (NYSE:ERJ), ended its last trade with - 0.70% loss, and closed at $27.07.
The Brazilian Civil Aviation Agency, granted type certification for the Legacy 450 mid-light executive jet during a ceremony at the Latin American Business Aviation Conference and Exhibition (LABACE) in Sao Paulo, Brazil.
“We are especially thrilled with the Legacy 450 certification, delivering on our commitment to reach this milestone just one year after the Legacy 500,” said Humberto Pereira, Vice President, Engineering and Technology, Embraer. “The Legacy 450 introduces true innovation in its class. This is also a reward for our teams’ passion and dedication to bring this truly revolutionary aircraft to market, and I congratulate each team member for this achievement.”
The certification campaign comprised two prototype aircraft, the first with flight test instruments and the second with a production-conforming interior. The commonality between the Legacy 450 and the Legacy 500 is around 95%. Production of the Legacy 450 has already begun and the first delivery is planned for the fourth quarter of 2015.
Embraer S.A. designs, develops, manufactures, and sells aircraft and systems; and provides technical support and after-sales service in Brazil, North America, Latin America, the Asia Pacific, Europe, and internationally. It operates through Commercial Aviation, Executive Jets, Defense & Security, and Other Related Businesses segments.
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