The U.S. core PCE price index recorded a monthly rate of 0.2% in April, the lowest since December 2023
The U.S. core PCE price index rose 0.2% month-on-month in April, in line with expectations of 0.30% and the previous value of 0.30%.
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Report: Marvell Technology is about to acquire optical module manufacturer Lumentum, and the deal may be announced as soon as next week
Lumentum has a market capitalization of approximately $8.3 billions, while Marvell Technology's market capitalization is around $22.1 billions. Following the announcement, Marvell's stock fell by over 8% in after-hours trading, while Lumentum rose by 11%. This acquisition may aim to streamline the supply chain and strengthen vertical integration—Marvell is currently a customer of Lumentum, and after the acquisition, it will gain control over key optoelectronic interconnect components, consolidating its strategic position in the AI data center hardware sector.
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