UPDATE: Rosenblatt Upgrades CommScope Holding (COMM) to Buy

Go back to UPDATE: Rosenblatt Upgrades CommScope Holding (COMM) to Buy

Pre-Open Stock Movers 04/08: (ORBC) (AVCT) (RICE) Higher; (BOX) (OTIC) (LNDC) Lower (more...)

April 8, 2021 9:28 AM EDT

Pre-Open Stock Movers:

ORBCOMM Inc. (Nasdaq: ORBC) 52.3% HIGHER; announced that it has entered into a definitive agreement to be acquired by GI Partners, a leading US-based investor in data infrastructure businesses, in an all-cash transaction that values ORBCOMM at approximately $1.1 billion, including net debt.

American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT) 43% HIGHER; received an unsolicited non-binding proposal,... More

CommScope (COMM) to Spin-Off its Home Networks Business into Independent Public Company

April 8, 2021 7:30 AM EDT

CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in connectivity solutions for communications networks, today announced its plan to spin-off its Home Networks business and other initiatives to reduce operating costs throughout the Company.

Together, the planned separation of CommScopes Home Networks business and operating expense reduction represent early steps in the Companys CommScope NEXT strategy to optimize the business portfolio, drive above-market growth, and control costs. The separation is intended to be executed through a tax-free spin-off to CommScope shareholders to form a new and independent publicly... More