Ceva Jumps on Surprise Fourth-Quarter Profit, Revenue Beat
Shares of Ceva climbed after the licensor of tech used in chips for wireless connectivity swung to a surprise profit and beat revenue expectations.
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Shares of Ceva (
CEVA) - Get Report jumped on Tuesday after the licensor of tech used in chips for wireless connectivity and other applications swung to a surprise fourth-quarter profit and beat revenue expectations.
Shares of the Rockville, Md., company at last check rose 9.6% to $76.57. The stock on Tuesday touched a 52-week high $83.95, up 20%.
The technology provider posted net income of $635,000, or 3 cents a share, a drop of 79% from $3 million, or 14 cents, in the year-earlier period. Adjusted earnings were 20 cents a share, compared with 30 cents.
Qualcomm, Google and Microsoft Oppose Nvidia s Deal for Arm: Reports
Several large tech companies have filed a complaint with U.S. antitrust regulators urging them to intervene in the deal.
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Nvidia s (
NVDA) - Get Report acquisition of Arm Ltd. from SoftBank has run into opposition from large tech firms who have filed a complaint with U.S. antitrust regulators, according to media reports on Friday.
A consortium comprised of Alphabet s (
QCOM) - Get Report, among others, has asked antitrust officials to intervene in the sale, Bloomberg reported. At least one of the companies wants the deal killed.
Nvidia shares were down 1.86% to $598.69 Friday afternoon on the news.