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Technology Stocks : Silicon Motion Inc. (SIMO)
SIMO 90.94+2.6%Dec 3 3:59 PM EST
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To: Elroy who wrote (2612)11/2/2022 5:56:43 PM
From: Sam  Read Replies (1) of 2978
 
I suppose this must be one reason why the stock is so low right now--this is about Tower, but the same reasoning could hold for SIMO. Although SIMO's results announced today weren't that bad even in the face of deteriorating conditions in their major markets. Tower will announce next week.

Tower Semiconductor drops amid Dupont's termination of Rogers deal
Nov. 02, 2022 3:28 PM ET Tower Semiconductor Ltd. (TSEM), INTC ROG, DD
By: Joshua Fineman

Tower Semiconductor (NASDAQ: TSEM), which agreed to be sold to Intel (NASDAQ: INTC) in February, fell 3.6% amid investor concern about China approval for deals after Dupont ( DD) on Tuesday t erminated its $5.2 billion acquisition of Rogers Corp. ( ROG).

Rogers ( ROG) plunged 44% after Dupont walked away from the deal after the parties failed to obtain timely regulatory clearance. Dupont and Rogers had until Tuesday to decide if either planned to walk away from the deal as China's antitrust review of the deal dragged on for months

Dupont ( DD) said in a statement that it was unable to obtain "timely" regulatory clearance, though Roger's business appeared to deteriorate since the deal was announced a year ago, analysts said.

continues at seekingalpha.com
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