Streetbeat News

TOSBF

Toshiba Corporation

https://www.toshiba.co.jp/

CEO

Nobuaki Kurumatani

Industry

Semiconductor and Related Device Manufacturing

Open

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Mkt cap

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Volume

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High

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P/E Ratio

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52-wk high

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Low

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52-wk low

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Toshiba Corp has been delisted from the Tokyo stock exchange after 74 years, marking the end of an era for the Japanese tech giant. The company faced a decade of scandals and has now been taken private following a $14 billion buyout led by Japan Industrial Partners. The consortium includes Orix Corp, Chubu Electric Power Co., and Rohm Co Ltd. Toshiba's future direction under CEO Taro Shimada may focus on high-profit digital services, and the company has already partnered with Rohm for a $2.7 billion investment in power chip production facilities. The delisting follows a successful tender offer for Toshiba's shares and the company's strategic importance to Japan's national security and employment.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 3:24 am

Weekly jobless claims fell to 201,000, below estimates. Cisco Systems is acquiring Splunk for $28 billion, causing a rally in Splunk's stock and a fall in Cisco's. Starbucks announced a 7.5% increase in its quarterly dividend. Keurig Dr Pepper appointed Tim Cofer as COO, effective Nov.6, 2023. Kraft Heinz recalled 83,800 cases of Kraft Singles due to choking hazard. Google is replacing Broadcom with Marvell for AI chips. Nio launched a smartphone to compete in China's EV market. Toshiba is going private after a successful $14 billion tender offer from JIP. Unilever is selling some of its non-core beauty brands. UBS terminated 70% of Credit Suisse's HK research staff. VinFast plans to ship EVs to Europe by end of 2023. Paramount Global and Warner Bros. Discovery stocks rose amid reports of a potential end to the Hollywood writers' strike. Arm Holdings and Instacart stocks declined, raising concerns about tech IPOs. The DOJ limited access to key evidence in its antitrust case against Google. Kia launched its cheapest EV in South Korea. KB Home reported a Q3 sales decline of 13.9% YoY but beat estimates. Darden Restaurants reported Q1 sales growth of 11.6% YoY, beating estimates. FactSet Research reported Q4 sales growth of 7.3% YoY, slightly beating estimates.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 2:02 pm

Toshiba Corp has announced the successful completion of a $14 billion tender offer from Japan Industrial Partners (JIP), allowing the company to go private. The total number of shares tendered exceeded the minimum required, with the company set to be delisted from the stock exchange as early as December.

Portfolio Pulse from Akanksha Bakshi

September 21, 2023 | 11:30 am

Several companies have made significant announcements. Advanced Micro-Fabrication Equipment Inc and Naura Technology Group Co expect a doubling in profits due to the U.S. tech embargo. BlackRock Inc plans to expand its Voting Choice program to its largest ETF. Alibaba Group Holding Limited's stock is trading lower as China's Q2 GDP missed estimates. Ford Motor Co announced price cuts for its F-150 Lightning truck. Virgin Galactic Holdings Inc announced the crew of its seventh spaceflight. Rocket Lab USA Inc is preparing to launch a mix of satellites for NASA and commercial satellite constellation operators. Acumen Pharmaceuticals Inc's experimental Alzheimer's drug passed early safety tests. Sony Group Corp and Microsoft Corporation have reportedly reached a 10-year agreement to keep 'Call of Duty' games on PlayStation consoles. Proximus SA is acquiring a 58% stake in Route Mobile. Entain PLC plans to acquire Angstrom Sports. Hennes & Mauritz AB is launching its stores in Brazil. American Airlines Group Inc and JetBlue Airways Corp have initiated the process of dissolving the Northeast Alliance. United Airlines Holdings Inc and its pilots have reached a labor agreement with a substantial pay raise. MoonLake Immunotherapeutics is reportedly looking for a potential sale. Toshiba Corp plans to establish a supply chain for offshore wind power equipment in Japan with General Electric Company.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 2:13 pm

Toshiba Corp. (OTC:TOSBF) and General Electric Company (NYSE:GE) are planning to establish a supply chain for offshore wind power equipment in Japan. The partners will develop components for production, targeting 2026 for domestic production of wind turbines. Orders for a project in Akita prefecture are expected to start as early as 2028.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2023 | 12:15 pm

HSBC Holdings is testing an advanced data-security system run by BT Group, Amazon's AWS cloud, and Toshiba Corp. The quantum essential distribution type of cyber defense could help protect trillions of dollars of transactions from hackers. The trial involves the bank sending test data between its headquarters and a data center. In 2022, JP Morgan Chase acknowledged demonstrating the ability of the newly developed QKD network to instantly detect and defend against eavesdroppers.

Portfolio Pulse from Anusuya Lahiri

July 05, 2023 | 11:51 am

Amazon considers launching an ad-supported Prime Video tier to boost its ad business and entertainment revenue. Google and Microsoft face backlash for including ads in AI trials without opt-out options. Airbus records a 34% YoY increase in May deliveries.

Portfolio Pulse from Vandana Singh

June 08, 2023 | 12:39 pm

Toshiba Corp's board recommends shareholders accept a $14 billion tender offer from a group led by Japan Industrial Partners, which will take the company private. The offer is expected to launch in late July, and the board believes the buyout will help build a stable management base for the company's growth.

Portfolio Pulse from Akanksha Bakshi

June 08, 2023 | 12:18 pm

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