Streetbeat News

TOSYY

Toshiba Corporation

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

CEO

Nobuaki Kurumatani

Industry

Semiconductor and Related Device Manufacturing

Open

14.81

Mkt cap

119

Volume

2.8K

High

14.92

P/E Ratio

-74.60

52-wk high

16.75

Low

14.81

Div yield

N/A

52-wk low

14.25

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

Western Digital Corp's stock is trading lower after reports that SK Hynix opposed the company's deal with Kioxia Holdings. SK Hynix, which has an indirect stake in Kioxia, is unwilling to negotiate the integration of the semiconductor division of Toshiba Corp. Western Digital and Kioxia are planning a merger to create a holding company for their NAND flash memory chips operations. Western Digital shareholders will own over 50% of the new company.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 6:00 pm

Western Digital Corp (NASDAQ:WDC) and Japanese chipmaker Kioxia Holdings are expected to merge soon, with a holding company set up to integrate their NAND flash memory chip operations. The combined entity will likely list on the Nasdaq stock exchange. Western Digital shareholders will own over 50% of the new company, with Kioxia holding the remaining stake. The combined market share of Kioxia and Western Digital for NAND memories stood at 35.4% as of March.

Portfolio Pulse from Anusuya Lahiri

October 13, 2023 | 4:53 pm

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

President Joe Biden has issued a 'Hazard Alert' to protect workers from the ongoing heatwave in the U.S. and pledged to invest in combating the impact of extreme weather events. The air conditioning market is expected to grow significantly due to the increasing demand caused by climate change. U.S.-based companies Carrier Global Corp, Whirlpool Corporation, and Emerson Electric Co are seeing positive trends, while non-U.S.-based companies like Electrolux AB, Hitachi Ltd, Mitsubishi Electric ADR, and Toshiba Corp are also experiencing favorable pricing trends.

Portfolio Pulse from AJ Fabino

July 27, 2023 | 6:05 pm

The global air conditioning market is expected to grow at a compound annual growth rate of 6.2% from 2022 to 2028, reaching a value of $172.48 billion by 2028, driven by rising temperatures and worsening air quality. The Asia Pacific region, followed by North America and Europe, will be the main contributors to this growth. Several US-based air conditioner stocks have seen price increases over the past month, including Carrier Global Corp (NYSE:CARR), Whirlpool Corporation (NYSE:WHR), and Emerson Electric Co (NYSE:EMR).

Portfolio Pulse from Natan Ponieman

July 18, 2023 | 6:57 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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