Stocks News

I’ve reported on Zoran Corp (ZRAN) here, here and here. The short story is that an activist investor, Ramius, was agitating for change and Zoran management agreed to merge with CSR plc in an all-stock transaction. March was a busy month for the three companies so let’s dive into the updates. On March 8, ZRAN made an announcement that Ramius was successful in its proxy fight: Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. … Ramius Value and Opportunity Master Fund Ltd (“Ramius”) had delivered the requisite consents to elect three new independent directors to the Company’s Board of Directors in substitution for three of the Company’s current independent Board members. Chairman Uzia Galil and board members James D. Meindl and Philip M. Young, the three longest-serving Board members, have been replaced Jon S. Castor, Dale Fuller and Jeffrey C. Smith. Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On March 3,...

The following is an excerpt taken from a model portfolio strategy update issued to clients April 4, 2011 at 6pm.  “Texas Instruments Incorporated (TXN) and National Semiconductor (NSM) today announced they have signed a definitive agreement under which TI will acquire National for $25 per share in an all-cash transaction of about $6.5 billion…The boards of directors of both companies have unanimously approved the transaction.” That price is nearly double the $14.07 it closed at today.  This should have a positive impact on semiconductor stocks tomorrow. NSM ranked high for Relative Value but Analyst Revision Momentum was poor.  Perhaps this is the new template for technology acquisitions.  If so, perhaps should keep a close eye on ReneSola Ltd. (SOL) and Micrel Inc. (MCRL), which rank similarly to NSM in Relative Value and Analyst Revision Momentum but better in in Operating Momentum and Fundamental Quality. With the first sell side commentary we have seen on this deal, Barron’s writes that Miller Tabak “sees Fairchild Semiconductor...

On CNBC's Options Action, Mike Khouw suggested that investors should consider a long position in Intel Corporation (NASDAQ: INTC). He explained that Intel (INTC) struggled recently, but usually it bottoms around 9.5 times earnings. Intel (INTC) is currently trading at 9.6 earnings, and Mike Khouw thinks that it would be a good idea to have a long position in this stock. He thinks that it is better to use options to make that purchase. Specifically, Mike Khouw wants to buy the May 20 call for $0.40. The break even for this trade is at $20.40, and Intel Corporation (NASDAQ: INTC) closed today's session at $19.49 with a decline of 1.17%.