Rambus hits one month-low on Hardent deal

Rambus

05/05/2022 17:55

** Shares of memory chipmaker  RMBS.O  drop 4.6% to $25.62,
the biggest intraday pct drop in a month
    ** RMBS announces deal to buy electronic design co Hardent
Inc for C$20 mln ($15.57 mln) in cash  urn:newsml:reuters.com:*:nBw7JGcJGa
    ** Deal will help RMBS expand its share of the data center
market, co says
    ** U.S. stock market indexes are also tumbling on Thursday,
as investors continue to bet on big rate hikes despite a less
hawkish tone from Fed chief Jerome Powell
    ** YTD, RMBS down 8.6%
    


($1 = 1.2846 Canadian dollars)

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))