Micron Technology, Inc. (NASDAQ:MU) and Elpida Memory announced that the Japan Fair Trade Commission has cleared Micron’s previously announced acquisition of Elpida. The transaction has also cleared pre-merger review in the United States, Czech Republic and Korea.
Alcatel-Lucent (NYSE:ALU): After Standard & Poor’s Ratings Service issued cautionary comments concerning the telecom equipment company’s financial condition, Alcatel-Lucent’s shares are going through selling pressure. Among other things, S&P cut their ratings on Alcatel’s unsecured debt from B to CCC+, noting that in the event of a default, there is a “negligible” – 0%-10% – potential for debt holder’s recovery.
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Cisco Systems, Inc. (NASDAQ:CSCO): For the second straight quarter, Cisco Systems, Inc. beat Motorola as the top cable set-top box market share leader. Infonetics Research made a statement saying that worldwide set-top box (STB) revenue was essentially flat during the third quarter of this year, totaling $3.7 billion. The IP set-top box segment grew the most during the third quarter with revenue up by 27% over the preceding quarter. Infonetics also said that 45% of all set-top boxes shipped had HD capabilities.
General Electric Company (NYSE:GE) has agreed to buy the aviation business of Italy’s Avio for $4.3 billion in a sign of confidence about the country’s underlying strength in spite of their deep recession. The agreement comes as Europe’s fourth-biggest economy works to become more competitive under a reform agenda that was set by Prime Minister, Mario Monti, who is due to step down on Friday before general elections this February.
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