BUZZ-BESI jumps after Applied Materials buys a 9% stake in company
Applied Materials, Inc. AMAT | 348.47 | -1.51% |
Dow Jones Industrial Average DJI | 46504.67 | -0.13% |
S&P 500 index SPX | 6582.69 | +0.11% |
NASDAQ IXIC | 21879.18 | +0.18% |
** Shares in BE Semiconductor BESI.AS jump 7% after Applied Materials AMAT.O has bought a 9% stake in the Dutch chipmaking parts supplier
** "I think that this is an astute move by (Applied Materials) to foster closer collaboration between the two companies," Timm Schulze-Melander from Redburn Atlantic says
** "Long-term we continue to believe that Applied Materials is the most logical acquire of BESI given the close cooperation between the two companies and the complementary technologies," Marc Hesselink from ING says
** The transaction makes it the largest shareholder of the Dutch company making advanced semiconductors packaging tools, above Blackrock Institutional Trust, according to LSEG data
** The stock, which has lost 30.4% YTD including today's session, is among the best performers of the pan-European STOXX 600 .STOXX index
(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))