Cadence announced that Fortune and Great Place to Work have honored the company as one of the 2021 100 Best Companies to Work For.
Cadence (CDNS) doesn’t possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Shares of Cadence Bancorp rose 2.4% in premarket trading Monday after the Texas-based regional bank announced a deal to merge with Mississippi-based BancorpSouth Bank in a deal that values the combined company at more than $6 billion. BancorpSouth shares were still inactive ahead of the open. Under terms of the deal, Cadence shareholders will receive 0.70 BancorpSouth shares for each Cadence share they own. Based on Friday’s stock closing prices, that values Cadence shares at $22.58 each, a 5.1% premium, and implies a market capitalization for Cadence of $2.81 billion. Cadence shareholders will also receive a one-time special dividend of $1.25 a share. After the deal’s closing, which is expected to occur in the fourth quarter of 2021, BancorpSouth shareholders will own 55% of the combined bank and Cadence shareholders will own 45%. The deal is expected to to provide 17% accretion to both BancorpSouth’s and Cadence’s 2022 earnings. Cadence’s stock has climbed 30.8% year to date through Friday and BancorpSouth’s stock has rallied 17.6%, while the S&P 500 has tacked on 9.9%.
MCO may require a lot more time before it gets its mojo back and delivers a triple-A-rating breakout.
Cadence announced the availability of an automotive-optimized Cadence digital full flow for Samsung Foundry’s 14LPU process technology.
Cadence (CDNS) reported earnings 30 days ago. What’s next for the stock? We take a look at earnings estimates for some clues.
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Cadence announced that it has collaborated with GLOBALFOUNDRIES (GF) to successfully tape out a Cadence Tensilica test chip on GF’s 22FDX platform.