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Fly News Breaks for August 11, 2017
NVDA, AMD, INTC
Aug 11, 2017 | 08:12 EDT
Roth Capital analyst Brian Alger said Nvidia's (NVDA) performance over the past several quarters has made it clear that neither Intel (INTC) nor AMD (AMD) have been able to slow the company's growth. Nvidia "stands alone" among semiconductor companies in terms of big volume and big dollar growth potential, but valuation of its stock remains the "only question," according to Alger. He raised his FY19 revenue estimate by roughly $1B and increased his price target on Nvidia shares to $150 from $120, but maintains a Neutral rating on the stock.
News For NVDA;INTC;AMD From the Last 2 Days
INTC
Aug 22, 2017 | 18:37 EDT
In an email, Intel CEO Brian Krzanich announced that Stacy Smith, Group President of Manufacturing, Operations and Sales at Intel, has decided to retire from the company at the end of January 2018. Reference Link
INTC
Aug 22, 2017 | 08:32 EDT
Intel Corporation (INTC) and Mobileye (MBLY) announced the expiration of the subsequent offering period of Intel's previously announced tender offer to purchase all of the outstanding ordinary shares of Mobileye. The subsequent offering period expired at 11:59 p.m., New York City time, on August 21. Based on information provided by the American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 216,757,856 Mobileye ordinary shares, representing approximately 97.3% of the outstanding Mobileye ordinary shares, had been validly tendered and had not been validly withdrawn as of 11:59 p.m., New York City time, on August 21, 2017. Intel immediately accepted for payment and has promptly paid for all ordinary shares that were validly tendered during the subsequent offering period in the same form and amount as the offer consideration paid in the initial offering period. On August 21, 2017, Mobileye filed a Form 25, Notification of Removal from Listing and/or Registration under Section 12(b) of the U.S. Securities Exchange Act of 1934 with the U.S. Securities and Exchange Commission to notify the SEC of the delisting of Mobileye's ordinary shares from the New York Stock Exchange. Delisting from the NYSE is expected to become effective 10 days after the filing date of the Form 25 on August 31, 2017. Following delisting from the NYSE, Mobileye ordinary shares will not be listed or registered on another national securities exchange. Delisting is likely to reduce significantly the liquidity and marketability of any Mobileye ordinary shares that have not been tendered pursuant to the tender offer. Mobileye also intends to deregister its ordinary shares under the Exchange Act and to suspend its reporting obligations under the Exchange Act upon satisfaction of the applicable requirements for deregistration.
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