Tag

Wolfspeed

All articles tagged with #wolfspeed

business3 months ago

Wolfspeed's Bankruptcy Exit Sparks Stock Surge

Wolfspeed has successfully exited Chapter 11 bankruptcy after reducing its debt by 70% and lowering interest expenses, with its stock rising 26% following the news. The company maintains strong liquidity and has issued new shares, diluting existing shareholders, as it continues to focus on its silicon carbide chip business and operational stability.

business6 months ago

Market Movers to Watch: Tesla, Robinhood, Wolfspeed, and More

Stock markets declined as investors focused on U.S. legislative developments and global trade talks, with notable movements including Tesla's 6.4% drop amid CEO criticism of tax bills, Robinhood's 3.5% rise following new crypto offerings, Coinbase's 2.9% decline, Wolfspeed's 76% surge after bankruptcy restructuring, and Planet Labs' 15% increase due to a major government contract.

business2 years ago

"Late-night Market Movers: Cisco Systems, Synopsys, Wolfspeed, and Beyond"

Cisco Systems' shares rose 2.5% after the company reported better-than-expected fiscal fourth-quarter earnings, with adjusted earnings per share of $1.14 and revenue of $15.2 billion. Electronic design automation company Synopsys saw its stock rise 2.3% after beating earnings expectations, reporting adjusted earnings per share of $2.88 and revenue of $1.49 billion. However, Wolfspeed's shares plunged 13% after the company's fiscal fourth-quarter earnings missed expectations, with an adjusted loss of 42 cents per share. Packaging company Amcor's stock gained 2.5% after reporting adjusted earnings per share of $0.19, beating analysts' forecasts, although its revenue fell short. Hawaiian Electric's shares slipped nearly 2% amid concerns about potential liability in the Maui wildfires, while Vietnamese electric vehicle maker VinFast Auto saw its shares dip about 5% after a significant surge the previous day.

business2 years ago

"Wolfspeed Secures $2B Deposit with 10-Year Chip Contract, Shares Surge 15%"

Semiconductor company Wolfspeed has secured a 10-year contract with Renesas Electronics, receiving a $2 billion cash infusion. The deal involves the production of chips using silicon carbide technology at a semiconductor plant in Chatham County. Wolfspeed's shares soared 15% following the announcement. Renesas will use the chips in various industries, including automotive and industrial sectors. The agreement strengthens Wolfspeed's position in the growing silicon carbide market.

technology2 years ago

Renesas and Wolfspeed Secure Decade-Long Silicon Carbide Wafer Deal

Renesas Electronics Corporation and Wolfspeed have signed a 10-year wafer supply agreement, with Renesas depositing $2 billion to secure a supply commitment of silicon carbide wafers from Wolfspeed. The agreement supports the adoption of silicon carbide in automotive, industrial, and energy markets and reinforces Renesas' commitment to boost its power semiconductor roadmap. The supply of high-quality silicon carbide wafers will enable Renesas to scale production of silicon carbide power semiconductors starting in 2025. Silicon carbide devices offer higher energy efficiency, greater power density, and lower system costs compared to conventional silicon power semiconductors.