Zeev's Turnips Patch-No Politics (ZEEV)

[phill]

redwards, NVEC and CY both down on CY announcement of intent to "sell the news" on MRAM. here's the critical comment from CY's TJ Rogers:

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=4687831&tid=cy&sid=46878...
"After a three-year effort, Cypress sampled fully functional MRAMs to seven key OEM customers in January. Three of those customers are still in the validation phase of their assessment and four of them have already confirmed with us that they have found the product fully functional, as we announced in our quarterly earnings conference call on January 27."
Rodgers continued, "It is seemingly contradictory that we would sell the MRAM business at its moment of first success. The fact is that a series of events and discoveries has led to our conclusion that this move is best for Cypress's shareholders."

CY has been cash strapped for a while and MRAM is a small deal there, though a big deal to NVEC, so CY selling this unit at a moment of increased value is not too surprising. I don't know why Rogers made this comment in public without a buyer lined up, but that's why he's a semi genius...

...and I'm not <g>

regards,

phill