Mellanox Execs Divest Shares, ARM Leads Chip Stocks: Tech Business Roundup
It’s not the best of days for Mellanox Technologies (NASDAQ:MLNX), following the announcement that Chief Executive Eyal Waldman and Chief Financial Officer Michael Gray have adopted Rule 10b5-1 trading plans. Waldman’s plan will permit him to divest, through a general partnership, 169,100 shares commencing in January and Gray’s plan will let him to sell 55,500 shares.
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Chip stocks are in the limelight Tuesday on word of ARM Holdings’s (NASDAQ:ARMH) impressive third quarter results in which it posted a 16 percent year-over-year jump in second quarter unit shipments from which the third quarter royalties were calculated. PC chip stocks such as Intel Corporation (NASDAQ:INTC), Nvidia Corporation (NASDAQ:NVDA), and Advanced Micro Devices (NYSE:AMD) all had moved up by late afternoon. Earlier, AMD unveiled its Vishera desktop CPU line; the firm is banking on the aggressively priced 4 and 8-core CPUs to help it reverse market share losses to Intel’s Ivy Bridge.
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