Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Tuesday, October 27, 2020 8:14:14 AM
By: TheStreet | October 27, 2020
• AMD agrees to buy Xilinx for $35 billion in stock, and posts better-than-expected third-quarter earnings.
Advanced Micro Devices (AMD) agreed to buy rival Xilinx (XLNX) for $35 billion in stock.
Chipmaker AMD also reported third-quarter earnings that beat analysts’ estimates.
Under terms of the deal, Xilinx investors will receive 1.7234 AMD shares for each Xilinx stock they own. The agreement values Xilinx at about $143 a share.
Xilinx shares closed Tuesday at $114.55, and were rising 10.87% to $127 in premarket trading Tuesday. AMD fell 2.83% to $79.90.
The merger is expected to close by the end of 2021. The deal still needs approval from shareholders and regulators. China also will have to approve the transaction.
“Our acquisition of Xilinx marks the next leg in our journey to establish AMD as the industry’s high performance computing leader and partner of choice for the largest and most important technology companies in the world,” said AMD CEO and President Lisa Su. “This is truly a compelling combination that will create significant value for all stakeholders, including AMD and Xilinx shareholders who will benefit from the future growth and upside potential of the combined company.”
AMD posted third-quarter adjusted earnings of 41 cents a share, beating Wall Street forecasts of 35 cents. Revenue of $2.8 billion rose from $1.8 billion a year earlier and topped analysts’ projections of $2.56 billion.
AMD said sales at its core computing and graphics segment were $1.67 billion, higher than estimates of $1.55 billion. Strong sales of Ryzen processor sales were partially offset by lower graphics revenue.
“Our business accelerated in the third quarter as strong demand for our PC, gaming, and data center products drove record quarterly revenue,” Su said in a statement Tuesday.
Gross margin in the third quarter was 44%, up 1 percentage point from last year.
The company estimated fourth-quarter revenue of about $3 billion, up 41% from a year earlier. Non-GAAP gross margin was estimated at about 45% in the fourth quarter.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent AMD News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/17/2024 08:21:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 08:15:04 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/11/2024 08:19:11 PM
- AMD Advancing AI 2024 Event to Highlight Next-gen Instinct and EPYC Processors and Expanding Solutions Ecosystem • GlobeNewswire Inc. • 09/10/2024 01:00:00 PM
- AMD to Present at the Goldman Sachs Communacopia and Technology Conference • GlobeNewswire Inc. • 09/04/2024 01:00:00 PM
- AMD Appoints AI Industry Veteran Keith Strier to Expand Global AI Capabilities and Engagements • GlobeNewswire Inc. • 09/03/2024 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 08:13:14 PM
- AMD 2023-24 Corporate Responsibility Report: Advancing Sustainability, Collaboration and Inclusion • GlobeNewswire Inc. • 08/21/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/20/2024 08:26:54 PM
- AMD to Present at the Deutsche Bank Technology Conference • GlobeNewswire Inc. • 08/20/2024 08:15:00 PM
- Berkshire Reduces Stake in BofA, Hawaiian Airlines Soars 10%, Paramount Receives $4.3B Offer, and More • IH Market News • 08/20/2024 09:56:02 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:26:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:24:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:22:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:19:38 PM
- Futures Pointing To Roughly Flat Open On Wall Street • IH Market News • 08/19/2024 01:13:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/19/2024 10:22:30 AM
- AMD to Significantly Expand Data Center AI Systems Capabilities with Acquisition of Hyperscale Solutions Provider ZT Systems • GlobeNewswire Inc. • 08/19/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:36:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:33:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:31:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:28:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:22:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:20:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:17:08 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM