Intel Corp. (NASDAQ: INTC) climbed more than 2% after Citigroup Inc. said in a research note that the world’s largest chipmaker may be forming a “foundry relationship” with Apple Inc. (NASDAQ: AAPL).
Shares of Ford Motor Co. (NYSE: F) rose more than 1% after the company said that auto sales will grow about 50 percent to around 8 million vehicles a year by the middle of the decade. Much of that growth will be in China and India, they said. In each of those markets, the second-largest U.S. automaker currently has between 2 percent and 3 percent of the total market share.
Cablevision Systems Corporation (NYSE: CVC) jumped more than 7% after the company announced that its board of directors has approved the leveraged spin-off of AMC Networks Inc., formerly known as Rainbow Media, to Cablevision shareholders. Following the spin-off, Cablevision Founder Charles F. Dolan will become executive chairman of the new, publicly-traded AMC Networks. Mr. Dolan will continue in his present role as chairman of Cablevision. The company announced earlier this year that current Rainbow chief executive officer Josh Sapan will become president and chief executive officer of AMC Networks.
Skyworks Solutions, Inc. (NASDAQ: SWKS) after the company affirmed its outlook for above market growth, excluding its recently announced acquisitions. In April 2011, Skyworks guided to approximately $345 million in revenue with non-GAAP diluted earnings per share of $0.46 for the current quarter. Further, during the earnings conference call, the Company indicated it was on a path to approach a $1.5 billion revenue run rate with $2.00 in annualized non-GAAP diluted earnings per share in the September quarter. This growth outlook is being driven by the Company's broad customer base, diversification into new markets and increasing share gains.
Pharmacyclics, Inc. (NASDAQ: PCYC) surged more than 11% after the company announced data from the oral presentation of the Phase IB/II study of the Btk inhibitor, PCI-32765, in chronic lymphocytic leukemia / small cell lymphocytic lymphoma at the 2011 American Society of Clinical Oncology Annual Meeting.
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