Technology Sector Review: Renewable Energy, Samsung’s Galaxy Note
Thomas & Betts Corp. (NYSE:TNB): ABB (NYSE:ABB) and Thomas & Betts (NYSE:TNB) announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9B. The acquisition price represents a 24% premium to Thomas & Betts’ closing stock price on Jan. 27 and a 35% premium to the volume weighted average stock price over the past 60 trading days. The transaction is subject to approval by Thomas & Betts shareholders as well as to customary regulatory approvals, and is expected to close by the middle of 2012.
The shares closed at $71.31, up $13.36, or 23.05%, on the day. Its market capitalization is $3.71 billion.
Cypress Semicond. Corp. (NASDAQ:CY): BNY Mellon reported a 6.44% passive stake in Cypress Semi.
The shares closed at $10.56, up $0.86, or 8.87%, on the day. Its market capitalization is $1.64 billion.
Canadian Solar Inc. (NASDAQ:CSIQ): The value of contracts involving renewable energy companies jumped by 40% to a record $53.5B globally last year, according to The Independent. Solar transactions jumped 56% to $15.8B, the publication added.
The shares closed at $4.13, up $0.21, or 5.36%, on the day. Its market capitalization is $179.78 million.
Rambus Inc. (NASDAQ:RMBS): The last of three patents Rambus (NASDAQ:RMBS) used to win infringement lawsuits has been declared invalid by the U.S. Patent and Trademark Office, Reuters reported Friday night, citing legal documents.
The shares closed at $7.51, down $0.46, or 5.77%, on the day. Its market capitalization is $825.81 million.
Apple Inc. (NASDAQ:AAPL): Samsung’s Galaxy Note- which is somewhere in between a cell phone and tablet – features an electronic pen, and 1M of the devices were sold worldwide, even though it hasn’t yet been introduced in the U.S., The Korea Times notes. Now Samsung is considering including a digital pen with the next version of its Galaxy Tab tablet, and LG, which, like Samsung, uses Google’s (NASDAQ:GOOG) Android operating system, is also slated to include a digital pen in an upcoming smart device, the publication added.
The shares closed at $453.01, up $5.73, or 1.28%, on the day. Its market capitalization is $422.37 billion.
Microsoft Corporation (NASDAQ:MSFT): Return Path announced it is a founding member of DMARC.org, a technical working group dedicated to the development of internet standards for reducing the threat of deceptive emails known as phishing. DMARC has outlined a new vision for email authentication and published a draft specification that resolves the issues associated with widespread adoption of email authentication technologies. Leading internet service providers, including Google (NASDAQ:GOOG), Yahoo! (NASDAQ:YHOO), AOL (NYSE:AOL) and Microsoft (NASDAQ:MSFT), are founding members of DMARC. Return Path’s anti-phishing solution Domain Assurance supports the DMARC specifications today, enabling companies to quickly and easily implement DMARC.
The shares closed at $29.61, up $0.38, or 1.3%, on the day. Its market capitalization is $248.45 billion.
Intel Corporation (NASDAQ:INTC): The Senate is expected to consider legislation this week that would force companies deemed crucial to the country’s security to take steps to protect their systems, according to The Hill.
The shares closed at $26.74, up $0.01, or 0.04%, on the day. Its market capitalization is $136.16 billion.
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