RBC Capital Raises Price Target Following Lam Research's (LRCX) 1Q16

S&P Reaffirms Ratings on Lam Research (LRCX) Amid Move to Acquire KLA-Tencor (KLAC)

October 21, 2015 11:01 AM EDT

Standard & Poor's Ratings Services affirmed its 'BBB' corporate credit rating on Lam Research Corp. (Nasdaq: LRCX). The outlook is stable.

At the same time, we affirmed our 'BBB' issue-level ratings on the unsecured senior and convertible notes issued by Lam Research Corp.

In addition, we affirmed our 'BBB' corporate credit rating on KLA-Tencor Corp. The outlook is stable.

We also affirmed the 'BBB' issue-level rating on the company's unsecured term loan and senior notes. Upon closing, we expect to withdraw our corporate credit rating on KLA-Tencor and our issue-level... More

Notable Mergers and Acquisitions 10/21: (WDC)/(SNDK) (SWI) (KLAC)/(LRCX) (RRD)

October 21, 2015 10:16 AM EDT

* Western Digital Corporation (Nasdaq: WDC) and SanDisk Corporation (Nasdaq: SNDK) announced that they have entered into a definitive agreement under which Western Digital will acquire all of the outstanding shares of SanDisk for a combination of cash and stock. The offer values SanDisk common stock at $86.50 per share or a total equity value of approximately $19 billion, using a five-day volume weighted average price ending on October 20, 2015 of $79.60 per share of Western Digital common stock. If the previously announced investment in Western Digital by Unisplendour Corporation Limited... More

Pre-Open Stock Movers 10/21: (KLAC) (ISRG) (SNDK) Higher; (SNTA) (VMW) (TWTR) Lower (more...)

October 21, 2015 9:27 AM EDT

Synta Pharmaceuticals Corp. (NASDAQ: SNTA) 66.7% LOWER; announced that the Company has decided to terminate the Phase 3 GALAXY-2 trial of ganetespib and docetaxel in the second-line treatment of patients with advanced non-small cell lung adenocarcinoma. Based on the review of a pre-planned interim analysis, the studys Independent Data Monitoring Committee (IDMC) concluded that the addition of ganetespib to docetaxel is unlikely to demonstrate a statistically significant improvement in the primary endpoint... More

Western Digital to buy SanDisk in $19 billion deal

October 21, 2015 7:37 AM EDT

By Devika Krishna Kumar and Abhirup Roy

(Reuters) - Hard-disk drive maker Western Digital Corp (NASDAQ: WDC) agreed to buy SanDisk Corp (NASDAQ: SNDK) in a $19 billion deal that will increase its ability to make flash memory storage chips used in smartphones and tablets.

SanDisk shares hit a high of $78.50 on Wednesday, but closed nearly $10 below the offer price of $86.50 in cash and stock, a fact that analysts attributed to the deal's complexity.

Western Digital said the value of the transaction hinges on... More

Lam Research (LRCX) Tops Q1 EPS by 11c; Issues Strong Q2 Outlook

October 21, 2015 6:13 AM EDT

Lam Research (NASDAQ: LRCX) reported Q1 EPS of $1.82, $0.11 better than the analyst estimate of $1.71. Revenue for the quarter came in at $1.6 million versus the consensus estimate of $1.6 billion.

Lam Research sees Q2 2016 EPS of $1.32-$1.52, versus the consensus of $1.30. Lam Research sees Q2 2016... More

Lam Research (LRCX), KLA-Tencor (KLAC) Enter $10.6B Merger Agreement

October 21, 2015 6:09 AM EDT

Lam Research (NASDAQ: LRCX) and KLA-Tencor Corporation (Nasdaq: KLAC) ("KLA-Tencor") today announced that they have entered into a definitive agreement, unanimously approved by the boards of directors of both companies, for Lam Research to acquire all outstanding KLA-Tencor shares in a cash and stock transaction.

KLA-Tencor stockholders will be entitled to elect to receive for the shares of KLA-Tencor stock they hold the economic equivalent of $32.00 in cash and 0.5 of a share of Lam Research common stock, in all-cash, all-stock, or mixed consideration, subject to proration as more fully... More

UPDATE: Lam Research (LRCX), Peers Advance to Session Highs (AMAT) (ASML) (KLAC)

October 20, 2015 2:33 PM EDT

(Updated - October 20, 2015 2:36 PM EDT)

Lam Research (NASDAQ: LRCX) climbed to session highs Tuesday afternoon, rising over 2%. Earlier Intel announced plans to increase investment in non-volatile memory technology.

Applied Materials (NASDAQ: AMAT) and ASML Holding NV (NASDAQ: ASML), and KLA-Tencor (NASDAQ: KLAC) also gained.

... More