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Silicon Motion Decides to Fight Back – InsideArbitrage Friday Wrap

  • July 28, 2023

FRIDAY WRAP

Our list of curated tweets for the current week

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Special Situations

Never seen anything like this before $SIMO $MXL


Maxlinear scraps nearly $4 bln deal for Taiwan's Silicon Motion


$mxl “has exercised its contractual rights to terminate its May 5, 2022 merger agreement with $simo”


Silicon Motion $SIMO issued a statement in response to a notice of purported termination of the Merger from MaxLinear $MXL


Some quick thoughts and back of the envelope math on the $BANC and $PACW merger.


Atlantic Union Bankshares $AUB Announces Agreement to Acquire American National Bankshares $AMNB


Public Storage to acquire Simply Self Storage for $2.2 bln


$CTCX (+49.3% pre) Carmell Therapeutics (CTCX) to Merge with Axolotl Biologix


$DICE and Eli Lilly $LLY pulled and refiled their $HSR filing on July 21 and refiled on July 24.

 


Excellent thread on the $IRBT deal cut.


L3Harris $LHX advised that the #FTC will not block its $4.7bn Aerojet Rocketdyne $AJRD transaction.


TC Energy to spin off oil pipeline business, focus on natural gas


Gap has finally found its next CEO. ⁦ @SuzanneKapner ⁩ has all the exclusive details.


GameStop CFO Diana Saadeh-Jajeh resigned, in another executive loss for the struggling video game retailer


$CVX Chevron CEO to stay past retirement age, finance chief to depart in 2024.


Alibaba says no to Ant Groups proposed share repurchase.


$BMY Reports Q2 Revenues of $11.2 Billion.


$ENPH $200 million share repurchase completed, another $1 Billion share repurchase authorized


$TZOO (+6.3% pre) Travelzoo Announces Share Repurchase Program - PRN

 


Investing

At the Berkshire meeting this year, Warren Buffett said:


McDonalds is a juggernaut. For company of this size to still comp at 12%


Facebook parent Meta Platforms reported its largest year-over-year revenue growth in more than a year as demand for advertising picks up again


Elon Musk has shown a personal affinity with the letter X; Tesla makes a Model X, his rocket maker is known as SpaceX and X is what he calls his son with Grimes


If sales growth of 21% in a company of this size or +19% at closest peer Richemont (all on top of bumper post Covid growth) don't qualify as a 'boom', not sure what does. Market expectations are the problem, not sector fundamentals.


$RH Portland. Exceptional design gallery. Been here 2 hours hanging in roof making calls and not one person has come in. Odd


GM says Cruise has 54% less collisions than a human in similar driving conditions.


$NKE UBS believes that Nike could double from here


During Tesla’s second quarter earnings call last week, CEO Elon Musk said that Tesla is “very open to licensing our FSD software and hardware to other car companies.”


Upslope Capital Management Q2 2023 letter.


The U.S. Economy

Remember I said pain. For 12 rounds we've been sparring. This is when things get tough. Inflation has been fading but it's still on its feet.


Second daily reading: The average 30-year fixed mortgage rate ticks up to 7.12%.