Market Updates
U.S. Movers: JetBlue, Juniper Network, Microchip Technology, Unity Software
Scott Peters
09 Jan, 2024
New York City
Juniper Networks rose 24% to $37.50 on a report that Hewlett-Packard Enterprise is in "advanced talks" to acquire the company in a $13 billion deal.
The news was first reported by the Wall Street Journal and could not be independently verified.
The acquisition between the two companies could be finalized as early as this week, the Journal reported.
Hewlett Packard Enterprise declined 7% to $16.42.
Unity Software increased 2.9% to $39.95 after the company said it plans to lay off about 25%, or 1,800, of its workforce as a part of the company's restructuring plan.
Microchip Technology declined 2.9% to $83.10 after the company lowered its fiscal third quarter revenue outlook, citing a "weakening economic environment."
The company said revenue in the quarter is likely to decline sequentially by 22% compared to the previous estimate released on November 2, 2023, of a decline between 15% and 20%.
JetBlue Airways fell 5% to $5.47, and the company said President and Chief Operating Officer Joanna Geraghty will replace Chief Executive Robin Hayes effective February 12.
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