Maria Deutscher
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Avaya shares drop 45% after it discloses ‘substantial doubt’ about outlook
Shares of Avaya Holdings Corp. declined 45.5% today after the company stated that there is “substantial doubt” about its ability to continue operating as a going concern. The drop in Avaya’s stock may have also been influenced by a number of other factors. The company, which makes communications software for enterprises, posted preliminary financial results that ...
AppLovin makes $20B offer to acquire Unity
AppLovin Corp., a software company that helps developers make money from their mobile apps with ads, today made an offer to acquire video game specialist Unity Software Inc. for $20 billion. The offer values Unity at $58.85 per share. That represents a 18% premium to the Monday closing price of the company’s stock. Palo Alto, ...
Micron will invest $40B to expand its US memory chip production capacity
Micron Technology Inc., one of the world’s top manufacturers of memory chips, will spend $40 billion through 2030 to expand its semiconductor production capacity in the U.S. The company announced the plan today. Boise, Idaho-based Micron is a major supplier of DRAM memory. The company’s DRAM chips can be found in a variety of devices ...
Vista Equity Partners to acquire tax compliance software maker Avalara for $8.4B
Avalara Inc., a major provider of tax compliance software for businesses, today announced that it has agreed to be acquired by Vista Equity Partners in an $8.4 billion deal. The announcement comes about a month after reports of the transaction first emerged. Vista Equity Partners’ $8.4 billion offer amounts to $93.50 per Avalara share, a 27% ...
Nvidia’s preliminary second-quarter revenue misses guidance
Nvidia Corp. today reported preliminary financial results for the second quarter, disclosing that it expects revenue and gross margins to fall short of its previously provided guidance. Nvidia in May projected revenue of $8.1 billion for the quarter ended July 31. In the newly released preliminary earnings report, the company stated that it’s now expecting ...
Palantir’s shares drop as it reports mixed second-quarter financial results
Palantir Technologies Inc. today reported better-than-expected second-quarter revenue, but its earnings per share and guidance missed analyst expectations. The company’s shares declined by more than 12% on the earnings report. NYSE-listed Palantir sells software that enables organizations collect data from a large number of sources and analyze it for insights. The company also offers software tools ...
Financial technology startup Plastiq to go public via $480M SPAC merger
Financial technology startup Plastiq Inc. on Thursday announced plans to go public by merging with Colonnade Acquisition Corp., a special purpose acquisition company. A SPAC is a firm created specifically to take another business public. It begins the process by listing its shares on a stock exchange. It then merges with a privately held business ...
Amazon to acquire Roomba vacuum maker iRobot for $1.7B
Amazon.com Inc. today announced plans to acquire robot vacuum maker iRobot Corp. for $1.7 billion. The transaction values publicly traded iRobot at $61 per share. The robotics company’s shares, which are traded on the Nasdaq, closed at $49.99 on Wednesday. Bedford, Massachusetts-based iRobot develops the popular Roomba series of robot vacuums. The company launched the ...
Afresh raises $115M in funding to reduce food waste with AI
Afresh Technologies Inc., a startup using artificial intelligence to help grocery store operators reduce food waste, on Thursday announced that it has closed a $115 million funding round. The Series B round was led by Spark Capital. More than a half-dozen other backers participated as well, including Walter Robb, the former co-chief executive officer of ...
Intel reportedly nearing deal to build $5B+ chip plant in Italy
Intel Corp. and the Italian government are reportedly close to signing a deal that would see the chipmaker build a new multibillion-dollar chip plant in Italy. The news was reported today by Reuters, which attributed the information to two sources familiar with the matter. The deal is expected to be worth $5 billion initially. According ...