UniCredit, the Italian bank, announced on Wednesday that it has raised its 2023 guidance, driven by impressive second-quarter profit and revenue. The bank's net profit for the quarter reached €2.31 billion ($2.55 billion), surpassing the €2.01 billion recorded in the same period last year. The strong performance was attributed to a 25% increase in revenue, which totaled €5.97 … [Read more...] about UniCredit Raises 2023 Guidance on Strong Q2 Results
Otis Worldwide Reports Higher Sales and Earnings
By Will Feuer Otis Worldwide, a Farmington-based elevator-and-escalator maker, has announced an increase in sales and earnings for the second quarter. The company has also introduced a cost-savings program to enhance its operations. Financial Performance During this period, Otis recorded a profit of $376 million, or 90 cents a share, compared to $321 million, or 76 cents a … [Read more...] about Otis Worldwide Reports Higher Sales and Earnings
MaxLinear’s Acquisition of Silicon Motion Technology: A Surprising Turn of Events
In a surprising turn of events, chip company MaxLinear announced its successful acquisition of Silicon Motion Technology after more than 14 months of uncertainty. The deal, valued at $3.8 billion, had faced skepticism from investors who believed it would never come to fruition. Under the terms of the agreement, MaxLinear (MXL) committed to paying $93.54 in cash and 0.388 shares … [Read more...] about MaxLinear’s Acquisition of Silicon Motion Technology: A Surprising Turn of Events
Termination of MaxLinear’s Planned Acquisition of Silicon Motion Technology
MaxLinear has announced the termination of its planned acquisition of Silicon Motion Technology, a deal that had recently received approval from Chinese regulators. In a securities filing on Wednesday, MaxLinear stated that certain closing conditions outlined in the merger agreement have not been met and are unlikely to be fulfilled. Additionally, it revealed that Silicon … [Read more...] about Termination of MaxLinear’s Planned Acquisition of Silicon Motion Technology
ASML Holding NV Reports Second Quarter Financial Results
ASML Holding NV, the Dutch manufacturer of lithography systems for the semiconductor industry, announced its second quarter financial results. Despite a slight decrease in net income compared to the previous quarter, the company achieved growth in net sales and gross margin, leading to an upward revision of its full-year net sales guidance. Financial Performance Net income for … [Read more...] about ASML Holding NV Reports Second Quarter Financial Results
