Jefferies Cuts Price Target on Mellanox Technologies (MLNX) Following EXCH Acquisition

Mellanox Technologies (MLNX) Boosts Q3 Outlook on Heels of EZchip Deal

Mellanox Technologies (NASDAQ: MLNX) nnounced that the company has updated its third quarter 2015 financial guidance on the heels of its September 30, 2015, announcement that it has entered into a definitive agreement to acquire EZchip (Nasdaq: EZCH) and the... More

Market Wrap: Private Payroll Gains Outpace in Sept.; Western Digital Gets Big Investment; Twitter's CEO Announcement Imminent

Market wrap for September 30th

End of the Day: S&P 500 up 35.9 to 1,920.03; Dow Jones up 16,284.70 to 235.6; Nasdaq up 102.8 to 4,620.17

Market Brief: U.S. markets gained as the third quarter comes to a close. Some of the action may have been a relief rally, while investors might have also been moving to shore-up positions.

ADP payroll data for September came in better than expected.

Twitter could make Jack Dorsey permanent CEO as soon as tomorrow.

Western Digital received a large... More

Notable Mergers and Acquisitions 9/30: (WDC) (SCOR)/(RENT) (MLNX)/(EZCH) (PSEM) (AMCN)

* Western Digital® Corporation (Nasdaq: WDC) and Unisplendour Corporation Limited (Unis) today jointly announced that they have entered into an agreement under which a subsidiary of Unis will make a $3.775 billion equity investment in Western Digital. Under the terms of the investment, Unis has agreed to purchase newly issued Western Digital common stock at a price of $92.50 per share.

Immediately following the closing of the investment, Unis will hold approximately 15% of Western Digital's issued and outstanding shares of common stock based on the number of issued and outstanding shares as of Sept. 25,... More

Pre-Open Stock Movers 09/30: (EZCH) (RENT) (WDC) Higher; (CUDA) (PLNT) (VRNT) Lower (more...)

(Updated - September 30, 2015 9:32 AM EDT)

Barracuda Networks (NYSE: CUDA) 32.3% LOWER; reported Q2 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $78.5 million versus the consensus estimate of $78.56 million. Multiple downgrades.

MediWound (NASDAQ:... More

Mellanox Technologies (MLNX) Enters Agreement to Acquire EZchip Semi (EZCH) for $25.50/Share

(Updated - September 30, 2015 7:31 AM EDT)

Mellanox Technologies (Nasdaq: MLNX) and EZchip (Nasdaq: EZCH) announced that they have entered into a definitive merger agreement under which Mellanox shall acquire 100 percent of EZchips outstanding ordinary shares for a cash purchase price of $25.5 per share implying a transaction value of approximately $811 million (approximately $620 million net of cash). The terms of the transaction have been unanimously approved by both the Mellanox and EZchip Boards of Directors.

The EZchip acquisition is a step in Mellanoxs strategy to become the leading broad-line supplier of... More