RF Micro Devices and TriQuint Semiconductor have agreed to merge in a $1.56 billion stock-swap transaction. The deal, which must be approved by the shareholders of both companies, is expected to close in the second half. Both companies provide radio-frequency semiconductors for smartphones and other applications. "TriQuint is a very big supplier to Apple. ... RFMD's got a better relationship with Samsung. So it works both ways," said Tom Sepenzis, an analyst for Northland Securities.
Embraer plans to upgrade its E-Jet line by improving fuel efficiency. The Brazilian aircraft manufacturer plans to reduce fuel burn by around 5% on its E-Jets to keep pace with improvements by rival Bombardier on its regional jets.
Embraer has opted for Pratt & Whitney engines for its E-jets family of aircraft. The Brazilian aircraft manufacturer had previously used General Electric engines for the E-jet line. "This is more than just a new engine," said Paulo César de Souza e Silva, the head of commercial aviation at Embraer. "This is a second generation of E-Jet to help us maintain our leadership of the 70- to 120-seat segment."
Boeing Co. has cut its full-year guidance after reporting a net loss of $1.56 billion in the third quarter, stung by delays for two of its major commercial jets, the 787 and 747-8. Bloomberg said it was Boeing's biggest loss since the financial data company began keeping records in 1983. Sales were up 9.1% to $16.7 billion.