Several analysts Tuesday said they’re skeptical about an unsolicited bid by Chinese chipmaker Tsinghua Unigroup for Boise, Idaho-based Micron Technology (MU). The Wall Street Journal, citing unnamed sources, reported Monday that China state-owned company Tsinghua Unigroup “has prepared a $23 billion bid,” about $21 a share, to buy memory chipmaker Micron. Micron stock closed Monday at 17.61, so the offer would be a 19% premium. In a July 2
Medical giant Johnson & Johnson (JNJ) beat Wall Street’s Q2 estimates and lifted its guidance Tuesday, but the stock was off a fraction in early trading as revenue declined. Earnings excluding special items shrank 4% from the year-earlier quarter to $1.71 a share, beating analysts’ consensus by 4 cents, according to Thomson Reuters. Excluding the impact of foreign exchange rates, profit rose 6.7%. Revenue fell 8.8% to $17.8 billion, in line with
Apple (AAPL) could grab up to 20 million video subscribers with its own service by 2020, but cable TV companies would weather the storm owing to their dominance in broadband and their growth in the business market, says Deutsche Bank, which initiated coverage of cable stocks. Analyst Bryan Kraft gave buy ratings to Charter Communications (CHTR), Time Warner Cable (TWC) and Liberty Broadband (LBRDA), while putting holds on Comcast and Cablevision