U.S. Stocks Open Higher; Credo Stock Surges 14% on DustPhotonics Acquisition Deal
Tiger Newspress
Apr 14
U.S. stocks moved higher on Tuesday following a strong session in which traders shrugged off a breakdown in peace talks between the U.S. and Iran, yet were optimistic that a deal between the two countries was still possible. Traders also navigated a slew of fresh corporate earnings results.
The S&P 500 rose 0.3%, while the Dow Jones Industrial Average added 41 points, or 0.1%. The Nasdaq Composite climbed 0.7%.
Credo Technology shares rose 14% in morning trading following the company’s announcement that it has entered into a definitive agreement to acquire DustPhotonics, a developer of Silicon Photonics Photonic Integrated Circuit technology for optical transceivers.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.