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Wednesday, November 11, 2015

STMicro has no plans for M&A until growth revives -CEO, (NYSE: MS)

Europe's largest chipmaker STMicroelectronics reiterated on Wednesday that mergers and acquisitions were not a priority for now as its focuses on boosting sales and restructuring its digital products division. Speaking at the annual Morgan Stanley TMT conference in Barcelona, Spain, ST Chief Executive Carlo Bozotti said he could not rule out M&A becoming important for ST in the future, but it is "not on the table today"."Our priority is No. 1: growth, and No. 2: resolve the problem in our digital products group," Bozotti said.The Franco-Italian chipmaker has refrained from taking part in a global consolidation wave in the semiconductor industry over the past year that continues at a breathless pace.

Morgan Stanley is a financial holding company. Through its subsidiaries and affiliates, the Company provides a variety of products and financial services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.54% or $-0.19/share to $35.05. In the past year, the shares have traded as low as $30.15 and as high as $41.04. On average, 13830300 shares of MS exchange hands on a given day and today's volume is recorded at 4717104.