Fusion-io Inc. plunged the most ever after replacing Chief Executive Officer David Flynn with Shane Robison, a former Hewlett-Packard Co. senior leader associated with a disastrous deal by his prior employer.
Asian stocks advanced for a third day, with the regional benchmark index rising to a five-year high, as China’s exports topped estimates and companies including HSBC Holdings Plc posted earnings that cheered investors.
Toshiba Corp. fell the most in two years in Tokyo trading after the Nikkei newspaper reported a weaker yen increased costs, causing the maker of memory chips, televisions and nuclear reactors to miss its profit forecast.
Each time North Korean leader Kim Jong Un threatens warfare on his neighbor to the south, the consumer-electronics industry should take a deep breath. South Korea has become so integral to the production of smartphones, tablets and other devices that a disruption there could have a major impact on the manufacturing of new gadgets, Mike Howard, an analyst at supplier-research firm IHS ISuppli, said in an interview.
Spansion Inc., a producer of flash memory for electronics systems, agreed to buy Fujitsu Ltd.’s microcontroller operations for $110 million to gain the chipmaker’s employees, intellectual property and products.