Cray shareholders will receive $35 per share, which explains the stock's rise to around $35 today. "Only by processing and analyzing this data will we be able to unlock the answers to critical challenges across medicine, climate change, space and more. The Cray-3 was a vector supercomputer, Seymour Cray's designated successor to the Cray-2.The system was one of the first major applications of gallium arsenide (GaAs) semiconductors in computing, using hundreds of custom built ICs packed into a 1 cubic foot (0.028 m 3) CPU.The design goal was performance around 16 GFLOPS, about 12 times that of the Cray-2.. Work started on the Cray-3 in … Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.HPE will acquire Cray in a cash deal valued at $1.3 billion, the two companies announced Friday morning. Stock Market Shares of supercomputer-systems builder Cray (NASDAQ: CRAY) jumped on Wednesday, rising as much as 17.5%. AMD | Complete Advanced Micro Devices Inc. stock news by MarketWatch. In the short-term, however, the stock price is likely to stay very low during bankruptcy and immediately after. "Answers to some of society's most pressing challenges are buried in massive amounts of data," said HPE CEO Antonio Neri in a press release. Specifically, Ungaro said the period represented one of its "strongest bookings quarters in several years.
The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Cray Inc., a subsidiary of Hewlett Packard Enterprise, is an American supercomputer manufacturer headquartered in Seattle, Washington. "Only by processing and analyzing this data will we be able to unlock the answers to critical challenges across medicine, climate change, space and more. Investing Basics HPE will acquire Cray in a cash deal valued at $1.3 billion, the two companies announced Friday morning. For its second quarter, management forecast revenue of about $110 million -- above the current consensus analyst estimate of $86 million for the period.These restaurants have filed for bankruptcy and many more are at riskBoris Johnson’s Desperate Change of Direction on CoronavirusTrump Can’t Delay the Election. Investing is his primary passion. "The acquisition will enable HPE to "drive the next generation of high performance computing and play an important part in advancing the way people live and work," said Neri.The deal will result in both revenue growth opportunities and cost synergies, management said.The two companies expect the acquisition, which is subject to customary closing conditions and regulatory approval, to close by the first quarter of HPE's fiscal 2020.Stock Advisor launched in February of 2002. If you're looking for a bargain in the stock market, you should probably look elsewhere for a great deal.
HPE said it will look to offer Cray’s supercomputers as a service through It also sounds like HPE is hoping to bring some of the component technologies Cray has developed to serve high-performance computing customers into some of its other hardware products. In 1989, Cray Research spun off the Cray-3 project into a separate company, Cray Computer Corporation, headed by Seymour Cray and based in Colorado Springs, Colorado. Cray is a global technology leader in supercomputing and shares our deep commitment to innovation. These are good examples of our strong competitive position, which is key for us to drive growth in 2018 and beyond. Should You Buy CRAY Stock? But there’s always a chance that the company could emerge from bankruptcy stronger and stock prices may rise.
“We will have the opportunity to drive the next generation of high performance computing and play an important part in advancing how people work,” said Antonio Neri, president and chief executive officer of HPE, on a conference call following the announcement of the deal.Cray’s massive computers are used by some of the leading research institutions in the world to process outsized amounts of data and complex algorithms.
The stock's gain follows Cray's first-quarter update on Tuesday. Much of Cray’s headcount is in Minnesota and at Subscribe to GeekWire's free newsletters to catch every headlineHave a scoop that you'd like GeekWire to cover? The company employs 1,300 people worldwide and is based in downtown Seattle, recording $456 million in revenue during its last fiscal year.In an interview with GeekWire, Cray CEO Peter Ungaro said it decided to join forces with HPE — a competitor in high-performance computing — because HPE would allow Cray to sell into new markets beyond its traditional strength among government and educational research customers.“We’re just about to launch our next generation of technology that we think has a chance to penetrate a much broader market,” Ungaro said. HPE will acquire Cray in a cash deal valued at $1.3 billion, the two companies announced Friday morning. Both metrics were ahead of the consensus analyst estimate for the period.Cray reported a first-quarter adjusted loss per share of $0.53, narrower than its adjusted loss per share of $0.71 in the year-ago period and better than a consensus analyst estimate of a $0.57 adjusted loss. Retirement View real-time stock prices and stock quotes for a full financial overview.
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