Altera Shares Climb on Report That an Intel Deal Is Near

29 May 2015 | Author: | No comments yet »

Altera Shares Climb on Report That an Intel Deal Is Near.

Altera Corp. shares touched a 14-year intraday high after the New York Post reported that Intel Corp. is near a deal to buy the semiconductor maker for about $15 billion.Downloads for new video games and digital games boosted GameStop’s first-quarter profit as the retailer captured a 45% new-software market share, the company said Thursday. If finalized, the deal would be the largest ever for Intel, as the company moves from PC chip sales into fast-growing sectors such as the data center programmable chips produced by Altera, the Post reported.

Equinix Inc. on Friday agreed to buy U.K.-based peer Telecity Group PLC in a cash and share offer worth $3.6 billion, squashing an earlier tie-up between Telecity and another European player. The main attraction of Altera for Intel, observers say, would likely be its ‘field programmable gate arrays’–integrated circuits that are designed so as to let customers or designers configure them after manufacturing. Shares of Altera, which makes a broad range of low-power programmable chips, rose 5.1 percent to $49.36 at 9:37 a.m. in New York, after reaching as high as $49.83.

Higher sales drove Ulta Salon Cosmetics & Fragrance Inc.’s first-quarter profit, resulting in market share gains across categories, the beauty products retailer said Thursday. The company’s biggest buyout was the Aug. 19, 2010, acquisition of computer security firm McAfee for nearly $8 billion, according to S&P Capital IQ. Bob Evans Farms Inc., which has faced pressure from activist investor Sandell Asset Management to sell the buildings that house its restaurants and lease them back, is pursuing “monetization” of its headquarters site and two manufacturing facilities. Teva Pharmaceutical Industries Ltd. will pay $1.2 billion to settle government allegations its Cephalon subsidiary paid generic-drug makers to delay competing versions of the sleep-disorder drug Provigil. Altera rejected an offer of about $54 a share from Santa Clara, California-based Intel last month, people familiar with the negotiations said at the time.

While PC-chip sales are declining as more consumers rely on tablets and smartphones to get online, the data centers needed to churn out information and services for those mobile devices are driving orders for higher-end Intel processors and shoring up profitability. Big-data software company Splunk Inc. on Thursday reported another period of strong revenue growth, though higher expenses led to a wider loss for the April quarter.

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