Tag: Yahoo Finance

23 Jan by Vitaliy Dadalyan Tags:

Qorvo and Skyworks Weigh Bids for Broadcom’s RF Chip Unit

(Bloomberg) -- Semiconductor makers Qorvo Inc. and Skyworks Solutions Inc. are weighing bids for Broadcom Inc.’s wireless-chip business, which could fetch about $10 billion in a sale, according to people familiar with the matter.Other potential buyers could be interested, said the people, who asked to not be identified because the matter isn’t public. The unit makes radio-frequency, or RF, chips.A final decision hasn’t been made and Qorvo and Skyworks may opt not to proceed with offers, they said.A representative for Broadcom declined to comment. Representatives for Qorvo and Skyworks didn’t respond to requests for comment.Broadcom on Thursday disclosed new agreements to provide components for Apple Inc. devices for several years. The disclosure lets potential acquirers of the radio frequency unit know that they’re buying into a substantial business relationship with Cupertino, California-based Apple.The potential sale comes as Broadcom Chief Executive Officer Hock Tan -- fresh off a $10.7 billion takeover of...
23 Jan by Vitaliy Dadalyan Tags:

Wells Fargo Regulator Punishes Leaders Who Spun Culture of Fear

(Bloomberg) -- Seven years ago, Wells Fargo & Co.’s security chief opened a few “undercover” bank accounts to aid law enforcement. Within 24 hours, two employees tacked on debit cards, claiming they each personally spoke to the new -- fictional -- customers.“All I could do was shake my head,” the security chief told a senior executive in an email.The exchange was among dozens of behind-the-scenes moments of frustration and fear cited by U.S. regulators Thursday seeking to impose a record $59 million in fines on the bank’s former leaders for allowing sales abuses to pervade its nationwide branch network. Three settled, including ex-Chief Executive Officer John Stumpf, who agreed to be banned from the industry and pay a $17.5 million penalty -- an unprecedented sanction of a former U.S. bank leader. Five others are fighting the case.The bank’s aggressive targets for opening new accounts “caused hundreds of thousands of employees to...
23 Jan by Vitaliy Dadalyan Tags:

Intel’s Big Forecast Gives Chip Bulls Reason to Celebrate

(Bloomberg) -- Intel Corp.’s better-than-expected forecasts delivered the kind of good news semiconductor investors were looking for to justify record highs.The biggest U.S. chipmaker projected revenue in the current quarter of about $19 billion, more than $1 billion above the highest analyst estimate, according to data compiled by Bloomberg. Perhaps even more important for the broader industry, Intel’s data center revenue in the fourth quarter also expanded by 19%, compared with the same period a year ago. That beat the average of analyst estimates compiled by Bloomberg at 5.3%.Nvidia Corp., Micron Technology Inc. and Advanced Micro Devices all rose more than 1.5% in after-hours trading while Intel gained as much as 7.8%. The Philadelphia semiconductor index has gained more than 5% since the start of the year and closed at a fresh record on Thursday.Intel’s results came a day after Texas Instruments Inc. calmed nerves with a forecast that met estimates...
23 Jan by Vitaliy Dadalyan Tags:

Apple, Broadcom Strike $15 Billion Worth of Chip-Supply Deals

(Bloomberg) -- Broadcom Inc. disclosed new agreements to provide components for Apple Inc. devices released through the middle of 2023.The San Jose, California-based chipmaker said it entered into two multiyear pacts “for the supply of a range of specified high-performance wireless components and modules to Apple for use in its products.” That’s in addition to another similar agreement that Broadcom reached with Apple in 2019. The three deals could generate about $15 billion in future revenue, Broadcom added.Broadcom shares rose more than 2% in late trading, while rival Skyworks Solutions Inc. dropped as much as 7.7%. Broadcom is a major Apple supplier, providing radio-frequency chips that let iPhones, iPads and Apple Watches connect to cellular data networks. Broadcom has also supplied other components to Apple, including chips for connecting devices to Wi-Fi networks.Broadcom put its radio frequency chip unit up for sale last year. Thursday’s disclosure lets potential acquirers know that...