Here are some things going on this morning in your world of tech:
Dell (DELL) shares are higher by 12 cents after the company said it would take itself private in a $13.65 per share offer of cash and debt financed by founder Michael Dell, who remains CEO, and private equity firm Silver Lake, as widely expected. Microsoft (MSFT) is kicking in a $2 billion loan. The deal still requires the approval of shareholders who must vote.
Shares of ARM Holdings (ARMH) are higher by $1.98, or almost 5%, at $43.93 after the chip maker this morning reported�revenue rose 19%, year over year, to �164 million in revenue, yielding 4 pence per share, exceeding the Street’s �151.4 million revenue estimate and meeting its earnings per share expectations. The company projected $250 million in revenue this quarter, which is in line with the Street consensus of $249 million.
The company’s all-important backlog figure hit a record in the quarter, it said.
Gus Richard with Piper Jaffray, reiterating a Neutral view on the stock, called the report “strong” and raised his revenue estimate for this year slightly to $1.09 billion.
Shares of Automatic Data Processing (ADP) are up 91 cents, or 1.5%, at $60.46 after the company reported fiscal Q2 revenue of $2.75 billion and EPS of 80 cents, exceeding the Street’s $2.72 billion and 71 cents.
Pacific Crest’s Evan Wilson this morning reiterates an Outperform rating and an $820 price target on Google (GOOG) shares, writing that the company “will increasingly be viewed as a tech leader instead of a tech laggard” including such things as having its hardware (the Motorola division) show that it “gets” the Post-PC era, and “laughing stock” products gain “traction.”
Google shares are up $10.92, or 1.4%, at $769.94.
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