STAMFORD, CT – Gartner Inc. reported semiconductor sales would grow in the second quarter, reaching about $65 billion, up 2% sequentially and 8% year-over-year.
Last month, the firm predicted flat growth for the quarter.
Gartner cited a report from the World Semiconductor Trade Statistics that said May semiconductor sales were $20.5 billion; Gartner originally expected May sales of $19.8 billion.
The firm said first-quarter sales were $63.5 billion, up 4% compared to the same period last year.
For the first half of 2008, Gartner reportedly expects sales of $128 billion, up 5.5% compared to the first quarter of 2007.
The research firm said semiconductor sales revenue should total about $139 billion in the second half of the year, with 4% annual growth.
COVINGTON, KY -- Ashland Inc. announced it will buy Hercules Inc. for $2.6 billion.
Ashland will pay $18.60 in cash and a 0.093 share of Ashland stock for each share of Hercules stock, valuing that stock at $23.01 each, a 38% premium from Thursday's close. The deal will be financed by cash on hand and by committed debt from Bank of America Corp. (BAC) and Bank of Nova Scotia (BNS).
Ashland said the acquisition will boost its presence in the specialty chemical market.