Cypress Semiconductor has launched a bidding war for Integrated Silicon Solution, just two months after it had agreed to be acquired by a Chinese investor consortium.

The chipmaker's review of its mobile processor business comes after Broadcom and other rivals have abandoned similar operations.

Microsemi will buy the chip maker for nearly $390 million in a deal that could soon force Atmel and Silicon Labs into play.

Adobe Systems fell sharply after lowering its second quarter forecast. Oracle rises on third quarter earnings beat and dividend increase.

The acquisition target, a maker of communications chips, has been the subject of activist pressure since at least 2012.

"Overall supply constraints began to ease slightly at the back half of the fourth quarter and continuing into the start of the first quarter," said CEO Chuck Robbins.

Bloomberg reported late Wednesday that Apple is eyeing a September 7 launch date for its new iPhone 14 series.

Sin City looks set to welcome another massive resort/casino that's going to compete with industry leaders Caesars and MGM.

“Second quarter results were impacted by a weakening macro environment, high inflation and dampened consumer spending, which especially pressured our middle-income customers," said CEO Michelle Gass.