TSEM / Israel's Tower Semiconductor profit jumps amid pending sale to Intel

Weak industry conditions, a failure to close the merger, and geopolitical tensions have all weighed on Tower Semiconductor's prospects this year. TSEM more_horizontal

Tower Semiconductor and Intel recently announced a new manufacturing partnership. Tower could get access to more affordable manufacturing expansion vi more_horizontal

After the deadline to get China's approval passed, Intel and Tower called off their acquisition. It's likely a negative for both parties. more_horizontal

MIGDAL HAEMEK, Israel, August 17, 2023 – Tower Semiconductor (NASDAQ: TSEM; TASE: TSEM) today announced it will hold an Investor and Analyst confere more_horizontal

Intel has canceled its planned purchase of Tower Semiconductor. Intel walked away from the deal because it couldn't get Chinese regulatory approval. more_horizontal

Tower beat sales and earnings estimates in the second quarter. The stock is also getting a boost from news that Chinese regulators have approved a sal more_horizontal

The share price of Tower Semiconductor Ltd has been trending downward for the last 12 months, making it an appealing investment opportunity despite th more_horizontal

Before U.S. markets open Monday morning, 5 companies are scheduled to report quarterly earnings results. more_horizontal