On Monday, in the course of current trade, Shares of Altera Corp. (NASDAQ:ALTR), gained 6.14%, and is now trading at $51.85, hitting its highest level.
Intel Corporation (INTC) and Altera Corporation (ALTR) declared a definitive agreement under which Intel would acquire Altera for $54 per share in an all-cash transaction valued at about $16.7 billion.
The acquisition will couple Intel’s leading-edge products and manufacturing process with Altera’s leading field-programmable gate array (FPGA) technology. The combination is predictable to enable new classes of products that meet customer needs in the data center and Internet of Things (IoT) market segments. Intel plans to offer Altera’s FPGA products with Intel Xeon® processors as highly customized, integrated products. The companies also expect to enhance Altera’s products through design and manufacturing improvements resulting from Intel’s integrated device manufacturing model.
Altera will become an Intel business unit to facilitate continuity of existing and new customer sales and support. Intel plans to continue support and development for Altera’s ARM-based and power administration product lines.
The transaction is predictable to be accretive to Intel’s non-GAAP EPS and free cash flow in the first year after close. Intel intends to fund the acquisition, which is predictable to close within six to nine months, with a combination of cash from the balance sheet and debt.
Altera Corporation, a semiconductor company, designs and sells programmable logic devices (PLDs), HardCopy application-specific integrated circuit (ASIC) devices, power system-on-chip devices (PowerSoCs), pre-defined design building blocks, and associated development tools.
During an Early trade, Shares of CEMEX, S.A.B. de C.V. (NYSE:CX), dipped -1.51%, and is now trading at $9.16.
CEMEX, declared noteworthy progress in its offer of products and solutions to support the construction of resilient and sustainable urban communities. The company offered urban solutions, building materials, services and expertise that met the most demanding standards of construction and sustainability performance.
During 2014, CEMEX evolved its sustainability approach to ensure its commitments are integrated in the business strategy and its daily activities around the world. The company has also created a Sustainability Committee reporting directly to the Board of Directors to guide its sustainability strategy and efforts.
CEMEX is communicating its achievements through the release of its 2014 Sustainable Development Report “Building Resilient and Sustainable Urban Communities.”
CEMEX, S.A.B. de C.V., a building materials company, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia.
Shares of NetApp, Inc. (NASDAQ:NTAP), during its Monday’s current trading session fell -0.56%, and is now trading at $33.21.
NetApp, declared the appointment of Bill Lipsin as the new vice president of Worldwide Channel Sales, reporting to Thomas Stanley, senior vice president, Global Partner Sales and Alliances. With more than 30 years of industry experience, Lipsin will oversee NetApp’s channel strategy with a focus on maximizing the value of partnering with NetApp.
Under Lipsin’s leadership, NetApp will be rolling out several new investments to improve partner profitability and enhance NetApp marketing and partner engagement. Partner program investments comprise doubling of global partner marketing resources in addition to expanded demand- and lead-generation initiatives to accelerate adoption of the NetApp® clustered Data ONTAP® operating system.
NetApp, Inc. is engaged in design, manufacture, and marketing of networked storage solutions. The company provides storage and data administration software, systems, and services. It offers Data ONTAP storage operating system that delivers integrated data protection, comprehensive data administration, and built-in efficiency software for virtualized, shared infrastructures, cloud computing, and mixed workload business applications; storage efficiency technologies.
Finally, United Continental Holdings, Inc. (NYSE:UAL), lost -0.04% Monday.
United Airlines issued the following statement on Friday’s declaration by the U.S. Department of Homeland Security of its intent to expand customs, immigration and agriculture preclearance to 10 additional gateway airports:
We have worked closely with U.S. Customs and Border Protection (CBP) and support developments that provide more convenience for our customers. We thank Secretary Johnson and his team at the Department of Homeland Security and CBP for their engagement with United and the airline industry, and we look forward to partnering with them on this initiative to facilitate travel and reduce wait times.
United Continental Holdings, Inc., together with its auxiliaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline operations, which use jet aircraft with at least 118 seats, and its regional operations.
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