Category: Companies

Read More

Nvidia Corp Said On Monday It Will Buy Israeli Chip Designer Mellanox Technologies Ltd

U.S. chipmaker Nvidia Corp said on Monday it will buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion, beating rival Intel Corp in a deal that would help the company boost its data center business. The all-cash offer of $125 per share represents a premium of 14 percent to Mellanox’s Friday close. Shares of Mellanox rose 8.7 percent and Nvidia shares rose about 1 percent in premarket trading.

Read More

Microsoft Has Filed A Suit Against Foxconn Parent Company Hon Hai For Missing Patent-Licensing Payments

Tech giant Microsoft is taking legal action against Foxconn parent Hon Hai, after the Taiwanese consumer-electronics manufacturer allegedly failed to comply with a patent-licensing agreement from 2013. In a Friday court filing, Microsoft accused Foxconn of failing to provide twice-yearly royalty reports concerning certain unspecified products and has not made royalty payments on time. The suit was filed in the U.S. District Court for the Northern District of California.

Read More

Deutsche Bank Management Board Reportedly Agrees To Commerzbank Merger Talks

The management board of Deutsche Bank has agreed to hold talks with rival Commerzbank on the feasibility of a merger, a person with knowledge of the matter told Reuters on Sunday. The source, who spoke on condition of anonymity, confirmed information reported earlier by the Welt am Sonntag newspaper. The person said that first unofficial contacts have taken place in a very small group and that talks were at a very early stage.

Read More

Target Corp. Beat Analysts’ Expectations For Its Earnings And Revenue

Target delivered better-than-expected earnings during the critical holiday sales period as the retailer’s in-house brands and easy delivery options drew its strongest traffic and same-store sales growth in more than a decade. The company’s adjusted earnings per share hit a new record and its digital sales surged more than 25 percent for the fifth year in a row, even as its net income slid 26.5 percent.

Read More

Kraft Heinz Co. Slashed Its Dividend, Sending Its Stock Down More Than 20% After-Hours Trading

Kraft Heinz said it faced unexpectedly higher costs last year, and it has seen significant pressure on the value of its brands since its $49 billion merger in 2015. The writedown caused Kraft Heinz to swing to a fourth-quarter loss, marking a striking reversal after several years of radical cost-management efforts and higher profit margins that were seen as a model for the packaged-food industry.