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$CREE announced execution of a definitive agreement to sell its Wolfspeed Power and RF division to Infineon Technologies for $850MM in cash. J.P. Morgan Securities LLC served as $CREE's financial adviser on transaction. The closing is expected by the end of CY16. $CREE sees about $585MM of net proceeds after tax and other deal related costs.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.