Friday's Tech Winners & Losers
Shares of Systemax (SYX) were among technology's winners Friday, jumping 18% after the computer distributor posted big second-quarter earnings and revenue gains.
For the quarter ended June 30, the company earned $7.1 million, or 19 cents a share, on revenue of $547.2 million. During the year-earlier period, the company earned $1.5 million, or 4 cents a share, on revenue of $506.1 million.
"I am very pleased with our strong operating performance in the second quarter, highlighted by an 8% sales increase and the continued benefits of the cost cutting, streamlining and restructuring actions that we have implemented over the last two years," said Chairman and CEO Richard Leeds in a statement. Systemax shares were trading up $2.13 to $14.25.
Advanced Semiconductor Engineering (ASX) soared 15% after the Taiwan-based company said it has received an "indication of interest" from a group of investors led by the Carlyle Group. The potential offer would be worth $5.94 per American depositary share, or nearly $5.5 billion. The price would represent a premium of 13% over Wednesday's closing price of $5.26.Advanced Semiconductor's chairman, Jason Chang, has agreed to participate as a member of the consortium and to roll the shares of ASE owned by him and his ASE Enterprises holding company into an equity interest in the holding company created by the consortium. Chang and his affiliated holding company own about 18.4% of the shares. Advanced Semiconductor shares were trading up 81 cents to $6.07.
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