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Wolfspeed jumps on upbeat quarterly forecast
Wolfspeed makes silicon carbide chips used to extend the range of electric vehicles. CEO Gregg Lowe said the company's new facility in New York was on track to hit its goal for 20% utilization.
Wolfspeed (WOLF) Stock Moves -0.82%: What You Should Know Wolfspeed (WOLF) closed the day at $34, marking a -0.82% adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 0.85%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost0.96%. Shares of the maker of energy-efficient lighting had lost 13.3% over the past month.
As stock sinks, Wolfspeed says $5B NC plant is ‘underway.’ When production will begin Wolfspeed is building a $5 billion factory in western Chatham County. The factory will begin producing silicon carbide crystals by next summer. The company has pledged to employ more than 1,800 people at the site by the end of the decade.
Chip firm Wolfspeed's shares tank on disappointing... Wolfspeed's shares fell 14% in extended trading on Wednesday. The company also forecast quarterly revenue below market estimates.
Chip firm Wolfspeed's shares tank on disappointing forecast Wolfspeed predicted a larger-than-feared quarterly loss. Its shares fell 14 per cent in extended trading on Wednesday. Company also forecast quarterly revenue below market estimates.
Stocks making the biggest moves after hours: Cisco Systems, Synopsys, Wolfspeed and more Cisco Systems gained about 2.5% after posting fiscal fourth-quarter earnings that beat Wall Street's expectations. Wolfspeed plunged 13% after hours following Wolfspeed's fiscal fourth quarter earnings report, which missed expectations on the bottom line. Hawaiian Electric slipped nearly 2% Wednesday.
Chipmaker Wolfspeed secures $1.25 billion in debt funding from Apollo Global Wolfspeed said a group led by Apollo Global Management would make a debt investment of $1.25 billion in the chipmaker. The company in September last year had announced a multi-billion-dollar investment in a factory in North Carolina.
Chipmaker Wolfspeed secures $1.25 billion in debt funding led by Apollo Global Wolfspeed said a group led by Apollo Global Management would make a debt investment of $1.25 billion in the chipmaker. Wolfspeed CEO Gregg Lowe said the financing would help "scale up near-term operations at our Mohawk Valley Fab"
Chipmaker Wolfspeed secures $1.25 billion in debt funding from Apollo Global Wolfspeed said a group led by Apollo Global Management would make a debt investment of $1.25 billion in the chipmaker. Wolfspeed CEO Gregg Lowe said the financing would help "scale up near-term operations"
Tesla downgrade, Carnival stock, Wolfspeed-Apollo deal: Trending stocks Wolfspeed shares are on the rise after reaching a $2 billion debt deal with Apollo Global. AMCarnival Corporation shares drop despite the company's second quarter earnings report beating expectations. Tesla receives a downgrade from Goldman Sachs.
Chipmaker Wolfspeed secures $1.25 bln in debt funding led by Apollo Global Wolfspeed said a group led by Apollo Global Management would make a debt investment of $1.25 billion in the chipmaker. The company in September last year had announced a multi-billion-dollar investment in a factory in North Carolina.
Chipmaker Wolfspeed secures $1.25 bln in debt funding... Wolfspeed said a group led by Apollo Global Management would make a debt investment of $1.25 billion in the chipmaker. Wolfspeed CEO Gregg Lowe said the financing would help "scale up near-term operations at our Mohawk Valley Fab"
Chipmaker Wolfspeed secures $1.25 billion in debt funding led by Apollo Global Wolfspeed said on Monday that a group led by Apollo Global Management would make a debt investment of $1.25 billion in the chipmaker. Wolfspeed CEO Gregg Lowe said the financing would help "scale up near-term operations"
Apollo Global leads debt investment in chipmaker Wolfspeed - media The financing would make $1.25 billion of cash available immediately to Wolfspeed. Another $750 million could be drawn later, Bloomberg News reported. Wolfspeed said it will build a multi-billion dollar factory in North Carolina.
Apollo Global leads debt investment in chipmaker Wolfspeed: Media A group of investors led by Apollo Global Management is making a debt investment between US$1 billion to US$2 billion in chipmaker Wolfspeed. The financing would make US $1.25 billion of cash available immediately to Wolfspeed, while another US$750 million could be drawn later.
Apollo Global leads debt investment in chipmaker Wolfspeed, media report A group of investors led by Apollo Global Management is making a debt investment between $1 billion to $2 billion in chipmaker Wolfspeed. The financing would make $1.25 billion of cash available immediately to Wolfspeed, Bloomberg News reported.
Scholz: Germany to become one of world's major chip... German Chancellor Olaf Scholz said his government was working on investment projects. He said companies including Infineon and Wolfspeed had already invested in the country.
Wolfspeed fined $27,550 for fatal employee accident in Research Triangle Park Vincent Farrell, a facilities electrician at Wolfspeed, died on Oct. 13. The North Carolina Department of Labor released its initial findings this week. The department cited Wolfspeed with two serious violations that carry a combined penalty of $27,554.
Joe Biden's 'Hot Mic' Moment While Visiting Factory Viewed 3M Times A video of Joe Biden visiting a semiconductor plant in Durham, North Carolina while he is being recorded via a personal microphone has gone viral. In the footage, the president can be heard being guided along to meet a group of workers after touring the Wolfspeed factory. There has been continued speculation about Biden's mental agility.
Biden to warn private sector investments at stake under GOP proposals Biden is traveling to Durham to visit Wolfspeed, a semiconductors manufacturer that recently announced a $5 billion investment to expand their North Carolina operations. Biden has warned that the Democrats’ sweeping Inflation Reduction Act, which was a major political victory for him before the 2022 midterms, is at risk.
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