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Middleby (MIDD) Stock Trades Up, Here Is Why
Shares of kitchen product manufacturer Middleby (NYSE:MIDD) jumped 15.1% in the afternoon session after The Wall Street Journal reported that activist Garden Investments built a ~5% stake in the company and plans to push for changes. This move is noteworthy given that activist investors often bring about significant changes in targeted companies, focusing on improving asset monetization, expense efficiency, and stock buybacks.
Why Microchip Technology (MCHP) Shares Are Getting Obliterated Today
Shares of analog chipmaker Microchip Technology (NASDAQ:MCHP) fell 5.9% in the afternoon session after Texas Instruments, a peer in the semiconductor industry, reported disappointing fourth-quarter results, highlighting rising inventory levels and softening demand in critical end markets. Texas Instruments' earnings guidance for the next quarter fell short of Wall Street's expectations. Adding to the negative was the fact that inventory levels increased, contributing to weaknesses in Japan and Europe, especially in the auto, and industrial markets. These weaknesses were partly offset by continued strength in China's auto and smartphone markets. These pockets of strength helped drive revenue and EPS past Wall Street's estimates during the quarter. Regardless, it was a challenging quarter, amplifying fears of weakening demand.
Why Texas Instruments (TXN) Stock Is Falling Today
Shares of analog chip manufacturer Texas Instruments (NASDAQ:TXN) fell 5.9% in the morning session after the company reported underwhelming fourth-quarter results, with earnings guidance for the next quarter falling short of Wall Street's expectations. Adding to the negative was the fact that inventory levels increased, contributing to weaknesses in Japan and Europe, especially in the auto, and industrial markets. These weaknesses were partly offset by continued strength in China's auto and smartphone markets. These pockets of strength helped drive revenue and EPS past Wall Street's estimates during the quarter. Overall, we think this was a mixed quarter with guidance weighing on shares.