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Electronics company $BHE said it appointed Roop Lakkaraju as EVP and CFO, to succeed Don Adam who will be retiring at year’s end. Most recently, Lakkaraju served as CFO of software firm Maana. Earlier, he had held leadership positions, including COO and CFO, in various private and public companies.
$AVGO made its final offer to acquire $QCOM and under the terms of the proposed agreement Qualcomm stockholders would receive an aggregate of $82 per each Qualcomm share, consisting of $60 in cash and the remainder in Broadcom shares. The new offer represents a 50% premium over the closing price of $QCOM stock on Nov. 2, 2017.
$XLNX's revenues from Advanced Products for 3Q18 continued to be strong, increasing 30% from the same quarter a year ago and comprising 56% of company sales. This is supported by accelerated growth in the company's industry-leading 20nm and 16nm technology nodes, which inturn reflects very broad-based customer adoption.
$XLNX reported a 92% drop in 3Q18 earnings due to about $183MM in tax expenses resulting from the recent enactment of the Tax Cuts and Jobs Act. Net income fell to $12MM or $0.05 per share from $142MM or $0.52 per share last year. Revenue grew 8% to $631MM. Operating income increased 16% to $190MM.
$AVGO said the US Federal Trade Commission has requested more information regarding its acquisition plan of $QCOM. The effect of the second request is to extend the 30-day waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976. After $AVGO complies with the request, the regulator has 30 days to complete its review.
$PLXS said it expects 2Q18 revenues to be in the range of $670MM to $710MM. Excluding any potential effect of the tax reform, second quarter GAAP EPS is forecasted in the $0.68-$0.78 range, on gross margins of 4.3-4.7%. Cash outflows are estimated to be between $30MM and $50MM. In fiscal 2018, free cash flow is anticipated to exceed $100MM.
$PLXS, a tech firm in the electronics industry, slipped into the negative territory in 1Q18 reporting a loss of $2.93 per share, compared to profit $0.82 per share a year earlier. The results were impacted by an expense related to the US tax reform. On a non-GAAP basis, Plexus reported earnings of $0.75 per share. Revenues advanced 7% to $677MM.
Tech firm $MRCY has received $2.5M order from a defense contractor for storage appliances built with solid-state drive devices, for a military application. The order, which has been booked in Mercury’s 2Q18 earnings, is expected to be shipped over the next several quarters.
$MRCY received a $7.7MM follow-on order from a leading defense prime contractor for BuiltSecure high-density secure memory devices integrated into an airborne command, control and intelligence system. The order was booked in 2Q18 and is expected to be shipped over the next several quarters.
$HSTM introduces Verity, its newly formed company that combines its Echo and Morrisey businesses. Echo was formed as a combination of HealthLine Systems and SyMed Development, and Morrisey Associates was acquired in 2016. The company is launching its SaaS-based provider credentialing, privileging and enrollment solution, also called Verity.
$LFUS and $IXYS announced the election deadline by which $IXYS stockholders of record may elect to receive cash, shares of $LFUS common stock or both as merger consideration in connection with the $LFUS acquisition of $IXYS. The election deadline is Jan. 12, 2018. The parties expect to close the transaction on Jan. 17, 2018.
$MRCY announced it received a $12MM order from a defense prime contractor for optimized radio frequency modules ready for integration into an advanced electronic warfare system. The order was booked in the company's 2Q18 and is expected to be shipped over the next several quarters.
As part of its Healthcare NExT initiative, $MSFT partnered with Seattle-based biotech firm Adaptive Biotechnologies. Microsoft and Adaptive will build a universal blood test that will screen a person's human immune system using the former's AI and machine learning technologies. Microsoft had invested an undisclosed amount for this partnership.