Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Western Digital Corp.’s stock WDC, +1.86% was up 12.3% in premarket trading on Monday after the San Jose, Calif., data-storage company said it would spin off its flash memory businesses into a separate public company in the second half of 2024. Western Digital will focus on its legacy hard-drive business. The decision to pursue the tax-free spinoff of its flash-memory unit came after a strategic review of its business.
“The company’s separation will better position each franchise to execute innovative technology and product development, capitalize on unique growth opportunities, extend respective leadership positions, and operate more efficiently with distinct capital structures,” Western Digital said in a statement. The company said it “remains open to strategic opportunities that unlock further value in both our HDD and Flash investments and assets.” Qatalyst Partners, Lazard and J.P.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Miromatrix Medical stock soars after it agrees to be bought by United TherapeuticsSteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Leer más »
Spirit Realty stock rallies on $9B buyout by Realty Income Corp.Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Leer más »
Spirit Realty's stock rallies on $9B buyout by Realty Income Corp.Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Leer más »
JPMorgan, Bank of America stocks rise in premarket after big drops in the previous sessionSteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Leer más »
GM, Disney, Alphabet, Western Digital, SoFi, Apple, and More Stock Market MoversThe United Auto Workers union announces a strike at another General Motors plant, Nelson Peltz's push for board seats at Disney gets a boost, and results...
Leer más »