RF Micro Devices (RFMD) soared in a slightly lower market, as the high-performance radio frequency systems and semiconductor company geared up to report its second quarter earnings. Facebook (FB) and Twitter (TWTR) , however, were not as lucky, giving up ground following the earnings announcements. RF Micro jumped 8.6% to $12 in late trading. The company expects to report its second quarter results after the markets close.
RF Micro may have also gotten a boost from TriQuint Semiconductor (TQNT) beating Wall Street's expectations for its third quarter. The reason TriQuint may be a factor in RF Micro's share price today is because the Greensboro, N.C., company earlier this year announced plans to acquire TriQuint for $1.59 billion. The deal is expected to close in the second half of this year.
Once it does, the two companies will each own roughly a 50% stake each in the newly combined company that will go by the name of Qorvo.
Facebook fell 6.1% to $75.87 in late trading.
The Menlo Park, Calif., social media company took a hit after posting its third quarter earnings, despite beating analysts' expectations on both revenue and net income. Investors apparently were spooked by Facebook's carefree attitude on spending and the less than profitable results of its recently acquired WhatsApp messaging service.
Other market soothsayers, however, point to investors taking a short-term approach to Facebook and are failing to see its potential for far reaching growth in the next five years.
source: TheStreet ...At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
RF Micro may have also gotten a boost from TriQuint Semiconductor (TQNT) beating Wall Street's expectations for its third quarter. The reason TriQuint may be a factor in RF Micro's share price today is because the Greensboro, N.C., company earlier this year announced plans to acquire TriQuint for $1.59 billion. The deal is expected to close in the second half of this year.
Once it does, the two companies will each own roughly a 50% stake each in the newly combined company that will go by the name of Qorvo.
Facebook fell 6.1% to $75.87 in late trading.
The Menlo Park, Calif., social media company took a hit after posting its third quarter earnings, despite beating analysts' expectations on both revenue and net income. Investors apparently were spooked by Facebook's carefree attitude on spending and the less than profitable results of its recently acquired WhatsApp messaging service.
Other market soothsayers, however, point to investors taking a short-term approach to Facebook and are failing to see its potential for far reaching growth in the next five years.
source: TheStreet ...At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.