Premarket Movers | Qorvo Soars 8%; Celestica Jumps 9%; NXPI Gains 2%; Rambus Drops 19%; Galaxy Digital Plunges 8%

Tiger Newspress
Oct 28

Qorvo rose 8% in premarket trading.

Skyworks Solutions, which supplies radio frequency chips to Apple and other smartphone makers, held talks in recent months to buy rival Qorvo, The Information reported on Tuesday, citing people familiar with the matter.

Qorvo, which has a market cap of $8.54 billion according to LSEG data, closed at $92.13 on the Nasdaq on Monday.

Shares of Galaxy Digital Holdings Ltd. plunged 8% in premarket trading after the company’s operating partnership announced a $1 billion sale of exchangeable bonds.

Galaxy Digital Holdings LP is offering the 5.5-year bonds, which are exchangeable into common shares of Galaxy Digital, with a coupon of 0.5% to 1%, according to people familiar with the matter. The digital asset firm’s shares are traded in New York and Toronto.

Rambus fell 19% in premarket trading after the company reported Q3 diluted earnings late Monday of $0.44 per share, down from $0.45 a year earlier. Analysts polled by FactSet expected $0.51.

Revenue for the quarter ended Sept. 30 was $178.5 million, up from $145.5 million a year earlier. Analysts polled by FactSet expected $176 million.

Celestica surged 9% in premarket trading following the release of its third-quarter financial results that benefited from continued demand related to data center infrastructure.

For the quarter ended September 30, the company reported adjusted earnings per share of $1.58, which was more than the consensus estimate of $1.49. Its GAAP EPS was $1.05 compared to the consensus of $1.38.

NXP Semiconductors NV rose 2% in premarket trading.

NXP Semiconductors forecast fourth-quarter revenue above Wall Street estimates on Monday, as it recovers from sluggish demand and sees a rebound in the automotive segment.

Universal Health beat Wall Street estimates for third-quarter profit on Monday, driven by steady demand for medical care services at its hospitals, sending its shares surging 5% in premarket trading.

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