Skyworks Solutions Inc. (NASDAQ:SWKS) is surging as investors price in improving odds that its merger with Qorvo Inc. (NASDAQ:QRVO) will close this year as regulatory reviews advance and management turns more optimistic.
Skyworks shares are up 28% over the past five days and on track to be the S&P 500’s best weekly performer after the deal cleared U.S. antitrust review in early August and China’s SAMR review moved to Phase III.
CEO Phil Brace highlighted merger synergies and an “AI edge” at Goldman Sachs’ Communacopia + Technology Conference on Thursday even as he flagged near-term cost pressures.
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Frequency Electronics and ACV Auctions Surge
On Friday, Frequency Electronics, Inc. (NASDAQ:FEIM) and ACV Auctions Inc. (NYSE:ACVA) saw significant gains.
Frequency’s stock soared 30.7% after reporting first-quarter earnings of $0.41 per share, beating estimates of $0.15. ACV Auctions jumped 44.3% following Copart Inc. (NASDAQ:CPRT) ‘s acquisition announcement at $10.50 per share in cash.
Inflation Holds Steady as Dow Climbs
U.S. stocks rose as inflation remained stable at 3.4% in August, aligning with expectations. The Dow Jones gained over 550 points, reflecting positive sentiment.
This stability was accompanied by a 0.4% monthly price increase, driven by a 3.9% rise in gasoline prices. European shares also climbed, while Asian markets declined.
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