-=Tower Semi (TSEM) to be acquired by Intel (INTC) for $53.00 per share

• Update 4/25/22: Tower Semi shareholders approve Intel (INTC) merger at Extraordinary General Meeting; still subject to certain regulatory approvals and customary closing conditions

 

 

 Tower Semi to be acquired by Intel (INTC) for $53.00 per share in cash

• Intel Corporation (INTC) and Tower Semiconductor (TSEM) announced a definitive agreement under which Intel will acquire Tower for $53 per share in cash, representing a total enterprise value of approximately $5.4 billion. The acquisition significantly advances Intel's IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint and technology portfolio to address unprecedented industry demand.
• Transaction creates a globally diverse end-to-end foundry to help meet growing semiconductor demand and brings more value to customers across the nearly $100 billion addressable foundry market.
• Acquisition accelerates Intel's path to becoming a major provider of foundry services and capacity globally, now offering one of the industry's broadest portfolios of differentiated technology.
• Highly complementary transaction brings together Intel's leading-edge nodes and scale manufacturing with Tower Semiconductor's specialty technologies and customer-first approach to deliver leading technology and manufacturing capabilities and enhanced value to customers globally.
• Transaction is expected to be immediately accretive to Intel's non-GAAP EPS.

** day before **

=Tower Semi (TSEM) reported earnings on Wed 29 July 20 (b/o)

Tower Semi misses by $0.05, reports revs in-line; guides Q3 revs in-line 

Reports Q3 (Sep) earnings of $0.18 per share, excluding non-recurring items, $0.05 worse than the S&P Capital IQ Consensus of $0.23; revenues fell 3.6% year/year to $310.9 mln vs the $310.01 mln S&P Capital IQ Consensus.

Co issues in-line guidance for Q3, sees Q3 revs of $304-336 mln vs. $321.88 mln S&P Capital IQ Consensus.

Earnings this week : July 27 - 31, 20 (wk 31)

Monday (July 27)

• Afternoon: AGNC ARE AMKR BRO CATY CINF FIX CR EHC FFIV HSTM HTLF HXL IBTX JJSF JBT MEDP NOV NXPI OGS OMF PCH PFG QTS RNST SSD TCF TNET TBI UHS VCRA

Tuesday

• Morning: MMM MO ARCH AWI ABG B CNC CVLT GLW CMI DHI DTE ECL FBP EBC FELE BEN HOG HUN IVZ IRDM JBLU LH LW MLM MCD MDC MSCI NEO EDU OMC PFE PII PRLB RTX ROK ROP SPGI ST SHW SSTK SITC TRU TPB WAB WDR XRX YNDX ZBRA
• Afternoon: ACCO AMD AFL AKAM AMED AMGN APAM ASH ATRC CAR AXS BE BGFV BXP BYD CHRW CE CB CYH CSGP DENN DXCM EGP EBAY EIX ENVA EQR EEFT FEYE FCF FTV THG HA HP HIW IMAX JNPR KAI LSCC MASI MTDR MXIM MDLZ MPWR MRC NCR NWE OMCL OKE PKG PEGA PKI PLT RNR RXN STX SSNC STAG SBUX SYX TENB TRMK UDR UMBF UNM V WRE WH

Wednesday

• Morning: AAN AER ALKS ANTM APHA ADP AXTA BKU BDC BXMT BA BSX BCO BG CCJ CLS GIB CHEF CME CRTO DIN DT ETN ENB ETR EPD FSS FDP GRMN GD GE GM HES IPG JHG LIVN MHO MGLN MTOR MNRO NYCB NSC OC PAG PB RDWR ROL RES R SAIA SNY SC SMG SHOP SLAB SITE SIX SPOT TSEM FLOW SMP SHOO TROW TEL MEET TT UMC UTHR WNC WING

• Afternoon: AEGN AEM AGI ALGT AMP NLY AM AR APA ACGL ADM ASGN AVB AVTR AX BHE BLKB WHD CERN CAKE CHE CHDN CDE CGNX CTSH CXO CNMD CCI CONE DORM DRE WIRE EQIX EQC FB FICO FBHS FCPT GNW HOLX HPP PI INOV ISBC KRC KGC KN KLIC LRCX MTSI MANT VAC MGRC MMSI MAA MKSI MOBL MC MSA EGOV ORLY OII OIS PGRE PYPL PDM PPC PS PTC QRVO QCOM RJF SANM SIGI SCI NOW SIMO SKY SFM SRI RGR FTI TDOC TTEK TSE TROX TTMI TYL UCTT URI VICI WRI WERN WPX YUMC

Thursday (July 30)

• Morning: AOS ALXN AMT BUD APO APTV AZXN BAX BPMC BC CWT CRAI CI CLF COHU CMCSA COP COR CROX DAN DBD DNKN DD EXP ELAN LLY ES FMS FCN GNRC GPC GIL GPI GRUB HBI HGV IP ITGR ICE K KDP KEX KHC LNTH LKQ MMP MMC MA MPW MD MGPI TAP MCO MYE NTCT NEM NOC NVCR ODFL OSK OSTK PATK PRFT PBI PQG PG PFS RGEN RDS.A SNDR SIRI SM SAH SO SWK SF TMHC TRP TFX TPX TNC TXT TW TRS UPS GRA WM WEX YUM
• Afternoon: TWOU EGHT AIMT MDRX GOOG ATUS AMZN AAPL ATR ACA AJG TEAM BGA BAND BIO BEAT BRKS BVN BLDR COG CPT CC CXP COLM OFC CUZ CVA CACC CRY DVA DECK DLX DLR DRQ LOCO EA EBS NVST EXAS EXPE EXPO FHI FLEX FND FLS F FORM FTAI FWRD GLPI GILD HIG HTGC HTH HOPE HST HUBG MX MTZ MELI MGM MTX MITK MHK MOH PFPT PRO QDEL RP RDFN SGEN SHAK SKYW SPSC SYK TNDM X VRTX VRTU INT WWE XLNX XPO ZEN

Friday (July 31)

• Morning: ABBV AXL AON BCPC BERY BAH CAT CBOE CBRE CHTR CVX CHD CL CTS D XOM FCAU GT IDXX ITW MRK NOK NWL NVT PBF PSX PSXP PINS PNM SNA SPB UAA VFC WPC WETF

Earnings spotlight:

• Avery Dennison (NYSE:AVY), Hasbro (NASDAQ:HAS) and NXP Semi (NASDAQ:NXPI) on July 27; 
• Centene (NYSE:CNC), McDonald's (NYSE:MCD), Pfizer (NYSE:PFE), 3M (NYSE:MMM), Altria (NYSE:MO), Visa (NYSE:V), Starbucks (NASDAQ:SBUX), eBay (NASDAQ:EBAY) and Mondelez International (NASDAQ:MDLZ), AMD (NASDAQ:AMD) and Raytheon Technologies (NYSE:RTX) on July 28; 
• Boeing (NYSE:BA), General Electric (NYSE:GE), General Motors (GPhillM), General Dynamic (NYSE:GD), Boeing (BA), Spotify (NYSE:SPOT) Facebook (FB), PayPal (NASDAQ:PYPL), Archer Daniels Midland (NYSE:ADM), Qualcomm (NASDAQ:QCOM), Shopify (NYSE:SHOP) and Yum China (NYSE:YUMC) on July 29; 
• Royal Dutch Shell (NYSE:RDS.A), CIGNA (NYSE:CI), Comcast (NASDAQ:CMCSA), UPS (NYSE:UPS), Procter & Gamble (NYSE:PG), Anheuser-Busch InBev (NYSE:BUD) and Kraft Heinz (NASDAQ:KHC), DuPont (NYSE:DD), Valero Energy (NYSE:VLO), Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL), Ford (NYSE:F), MGM Resorts (NYSE:MGM) and Gilead Sciences (NASDAQ:GILD) on July 30; 
• Exxon Mobil (NYSE:XOM), Phillips 66 (NYSE:PSX), Chevron (NYSE:CVX), Merck (NYSE:MRK) and Caterpillar on July 31.

Tower Semiconductor Ltd. (TSEM) reported earnings on Mon 7 May 2018 (b/o)

** charts before earnings **

 

** charts after earnings **

 

MIGDAL HAEMEK, Israel (AP) _ Tower Semiconductor Ltd. (TSEM) on Monday reported first-quarter profit of $26.1 million.

On a per-share basis, the Migdal Haemek, Israel-based company said it had net income of 26 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 31 cents per share.

The chipmaker posted revenue of $312.7 million in the period.

For the current quarter ending in July, Tower Semiconductor said it expects revenue in the range of $335 million.

Tower Semiconductor shares have dropped 19 percent since the beginning of the year. The stock has increased 29 percent in the last 12 months.