Shares from the semiconductor sector could face pressure following the termination of merger deal between KLA-Tencor Corp KLAC and Lam Research Corporation LRCX. The merger deal was valued $10.6 billion and fell through after concerns raised by an antitrust agency.
Both are confident about the growth trajectory on a standalone basis.
KLA-Tencor's CEO Rick Wallace commented "Although we are disappointed with this outcome, KLA-Tencor's performance over the past several quarters demonstrates the Company is executing our strategies at a high level and creating compelling value for the industry and for our stockholders."
Similarly, Lam Research believes it remains firmly well placed to deliver growth even without the merger.
The following stocks could likely see volatile trading following the news. At time of writing:
- KLAC traded up by $0.59, or 0.83 percent, to $71.80
- LRCX gained $2.73, or 2.84 percent, to $98.90
- Intel Corporation INTC shed $0.15, or 0.39 percent, to $37.84
- NVIDIA Corporation NVDA traded at $67.10, down $1.14 or 1.66 percent
- Advanced Micro Devices, Inc. AMD fell $0.14, or 2.06 percent, to $6.64
- Applied Materials, Inc. AMAT shed $0.03, or 0.10 percent, to $29.91
- Veeco Instruments Inc. VECO added $0.58, or 2.77 percent, to $21.50
- Nanometrics Inc NANO traded at $22.34 gaining $0.09, or 0.39 percent
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