Semtech (SMTC), the semiconductor company, said it expects to post adjusted earnings of 37 cents to 45 cents a share on sales of $146 million to $154 million in the second quarter, while analysts are forecasting earnings of 41 cents a share on sales of $149.1 million. The stock rose 1.6%.
Chesapeake Energy (CHK) shares gained nearly 1.5% upon rumors that activist investor Carl Icahn is amassing a big stake in the energy company and a separate CNBC report that BlackRock (BLK) could be bumping its stake in the company up to as many as 5 million shares from 1 million shares.
Creatura of Federated Investors thinks that deal activity will pick up again because "the price is right," sellers have more "realistic attitudes" about the true valuation of their companies, and buyers are "desperate" for ways to grow.
Shares of Talbots (TLB) crashed more than 40% after the women's retailer ended takeover talks with private-equity firm Sycamore Partners.
The benchmark 10-year Treasury was up 10/32, lowering the yield to 1.744% and the greenback was flat to modestly positive, according to the dollar index.
The July crude oil contract added 20 cents to settle at $90.86 a barrel and June gold futures rose $11.40 to settle at $1,568.90 an ounce.
-- Written by Andrea Tse and Shanthi Bharatwaj in New York.
>To contact the writer of this article, click here: Andrea Tse.
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