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<ul class="summary-list"><li><keyword id="4128165" type="PERSON" weightage="60" keywordseo="Coherent">Coherent</keyword>'s stock surged on Friday amid news of another buyout offer for the company.</li><li>II-VI offered $260 per share for Santa Clara-based laser maker in an offer worth $6.5 billion.</li><li>The deal represents a 24% premium over <keyword id="4462759" type="PERSON" weightage="60" keywordseo="lumentum">Lumentum</keyword>'s previous offer and a 9.8% premium over <keyword id="4810596" type="PERSON" weightage="60" keywordseo="mks-instruments">MKS Instruments</keyword>' proposal.</li></ul><a href="https://markets.businessinsider.com/stocks/cohr-stock">Coherent</a> stock surged as much as 16% on Friday after the electronic-components maker <keyword id="10753580" type="UNKNOWN" weightage="60" keywordseo="ii-vi-incorporated">II-VI Incorporated</keyword> offered $260 per share for the company in a buyout bid.Coherent had already been the target of multiple buyout offers prior to II-VI's proposal. First, there was a <a href="https://www.businessinsider.com/coherent-stock-skyrockets-lumentum-announces-multi-billion-acquisition-2021-1">$226 per share offer</a> from the San Jose, California-based <a href="https://markets.businessinsider.com/stocks/lite-stock">Lumentum</a>, and then just last week <a href="https://markets.businessinsider.com/stocks/mksi-stock">MKS Instruments</a> offered <a href="https://markets.businessinsider.com/news/stocks/mks-instruments-makes-superior-offer-to-acquire-coherent-1030055705">roughly $240 per share</a> for the company.II-VI Incorporated's proposal represents a 24.0% premium over the implied value of the Lumentum transaction and a 9.8% premium over the implied value of MKS Instruments' acquisition proposal.If Coherent accepts II-VI's offer the company's stockholders would receive $130 in cash and 1.3055 II-VI common shares for each Coherent share held.However, Coherent would also owe Lumentum a $217.6 million breakup fee if it decides to go with MKS Instruments' or II-VI's offers because it already accepted the Lumentum deal before receiving the new proposals.Read More: <a href="https://www.businessinsider.com/cannabis-stocks-to-buy-market-leaders-years-ahead-potx-etf-2021-2?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener noreferrer">These 3 cannabis stocks are 'poised to be market leaders' and have the infrastructure to grab up industry share when federal legalization happens in the US, according to an analyst for the top-performing ETF in the world this year</a>.Santa Clara-based Coherent is a global supplier of industrial and fiber laser solutions for commercial, industrial, scientific, academic, and government customers. Lumentum and MKS Instruments both have similar operations.II-VI on the other hand, makes engineered materials, optoelectronic components, and optical systems for clients in numerous industries. Dr. Vincent Mattera Jr., CEO of II-VI, said he believes the strategic combination of the Coherent and his business would produce strong results in a statement on Friday."The combination of II-VI and Coherent would create a uniquely strategic global leader capable of delivering to our customers the most attractive combination of photonic solutions, compound semiconductors, as well as laser technology and systems," said Dr. Vincent D. Mattera, Jr., Chief Executive Officer of II-VI."We believe now is the right time to embark on this combination given significant megatrends, with burgeoning applications in both industrial and semiconductor capital equipment segments, including those that enable consumer electronics and displays," the CEO added.II-VI Incorporated, known as "two-six", has some history with Coherent. In late December, Coherent <a href="https://www.prnewswire.com/news-releases/coherent-and-ii-vi-to-jointly-supply-turnkey-automotive-and-electrification-welding-solutions-301194181.html">entered into a supply agreement</a> with II-VI for automotive welding applications and the two worked together to offer customers a single point of contact for their services.Read More: <a href="https://www.businessinsider.com/stocks-to-buy-beaten-down-stock-picks-capitalize-reopening-barclays-2021-2?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener noreferrer">Barclays says buy these 33 beaten-down stocks that are perfectly poised to capitalize on the reopening of the economy in the years ahead</a>.Coherent's board responded to the unsolicited offer from II-IV in a <a href="https://www.coherent.com/company/press_release_page/coherent-confirms-receipt-of-unsolicited-proposal-from-ii-vi-incorporated">press release</a> saying:"Notwithstanding its receipt of MKS' proposal and II-VI's proposal, Coherent's board of directors continues to recommend Coherent's merger agreement with Lumentum to its stockholders. Coherent's board of directors is not modifying or withdrawing its recommendation with respect to the Lumentum merger agreement and the Lumentum merger at this time, or proposing to do so, and is not making any recommendation with respect to MKS' proposal or II-VI's proposal at this time."Coherent's stock has more than doubled in value over the past six months including a 58% rise over just the last month amid the multiple buyout bids.The rise in share prices comes despite falling revenue and EPS at the company. Coherent turned in annual revenues for 2020 of just $1.23 billion, down 13% from 2019's figures, <a href="https://investors.coherent.com/sec-filings">according to SEC filings</a>. And EPS fell 50% in 2020 to just $3.00 per share from $5.92 in 2019.Coherent traded up 14.23%, at $259.06, as of 11:57 a.m. EST on Friday.

Coherent surges 16% after electronic-components maker II-VI Incorporated offers $260 a share in buyout bid

<ul><li>The Indian stock markets could open on a positive note on September 21, after experiencing a bear hug on the previous day. </li><li>Trends on SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> showed an increase of 47 points, suggesting that Nifty could open in the green amid negative cues in other Asian markets. </li><li>SBI Cards, Adani Ports and HCL Tech could be among the top stocks to watch out for on September 21. </li></ul><cmsannotation type="cmsannotation" annotationid="SBI Card &amp; Payment Services" comment="subhead" text="SBI Card &amp; Payment Services">SBI Card &amp; Payment Services</cmsannotation> US-based private equity firm The Carlyle Group is planning to sell a 3.4 percent stake in the company, valued at ₹3,267 crore, in the price range of ₹1,021 to ₹1,072 per share. <cmsannotation type="cmsannotation" annotationid="Adani Ports &amp; SEZ" comment="subhead" text="Adani Ports &amp; SEZ">Adani Ports &amp; SEZ</cmsannotation> Received approval from the Competition Commission of India to acquire a 10.4 percent stake in the Gangavaram Port project in Andhra Pradesh. <cmsannotation type="cmsannotation" annotationid="HCL Tech" comment="subhead" text="HCL Tech">HCL Tech</cmsannotation> Bagged a digital transformation order from US-based MKS Instruments Inc., for five years. <cmsannotation type="cmsannotation" annotationid="IPO Watch" comment="subhead" text="IPO Watch">IPO Watch</cmsannotation> Paras Defence and Space Technologies IPO worth ₹171 crore to kick off today, with a price band of ₹165-175 per share. <cmsannotation type="cmsannotation" annotationid="Cadila Healthcare" comment="subhead" text="Cadila Healthcare">Cadila Healthcare</cmsannotation> Its subsidiary has entered into an agreement with Integrace to sell two brands, Mifegest and Cytolog. <cmsannotation type="cmsannotation" annotationid="Kitex Garments" comment="subhead" text="Kitex Garments">Kitex Garments</cmsannotation> Entered into a memorandum of understanding with the Telangana government to invest ₹2,406 crore in the state. <cmsannotation type="cmsannotation" annotationid="Yes Bank" comment="subhead" text="Yes Bank">Yes Bank</cmsannotation> Partnered with Visa to offer credit cards to its customers after the ban on MasterCard. <cmsannotation type="cmsannotation" annotationid="Nestle India" comment="subhead" text="Nestle India">Nestle India</cmsannotation> Reports suggest that the company’s chairman has revealed that it may face headwinds in 2022 due to rising coffee prices globally. <cmsannotation type="cmsannotation" annotationid="Action Construction Equipment" comment="subhead" text="Action Construction Equipment">Action Construction Equipment</cmsannotation> Launched its qualified institutional placement on Monday, with the price band fixed at ₹254.55 per equity share. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-for-sansera-engineering-ipo/articleshow/86380353.cms">Sansera Engineering IPO — How to check allotment status, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-3-foldable-smartphone-review/articleshow/86366351.cms">Samsung Galaxy Z Fold 3 review: Creasing through the folds</a> <a href="https://www.businessinsider.in/tech/news/emmys-2021-netflix-beats-hbo-for-the-first-time-with-the-most-number-of-awards/articleshow/86365603.cms">Emmys 2021: Netflix beats HBO for the first time with the most number of awards</a>

SBI Cards, Adani Ports, HCL Tech and other top stocks to watch out for on September 21

<ul><li>US stocks closed at record highs on Friday as investors mulled how much further the market could climb.</li><li>Optimism around vaccinations and new stimulus continue to offset weak jobs data. </li><li>Bitcoin traded around $47,500 after notching a record high late Thursday. Adoption from BNY Mellon, Mastercard, and Tesla sent prices soaring through the week.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingestgest">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>US stocks closed at all-time highs on Friday as the month's rally charged on.Momentum from Thursday's session continued, as investors weighed whether stocks have room to move higher. While Democrats are pushing forward with a $1.9 trillion relief package, stretched valuations and lasting pain in the labor market stand to curb further gains."Investors have been bracing for a selloff as stocks continue to defy gravity," Lindsay Bell, chief investment strategist at Ally Invest, said. "While stocks may look stretched and feel ripe for a selloff, it is best to prepare your portfolio for the potential of both more upside and downside."Here's where US indexes stood at the 4 p.m. ET close on Friday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 3,934.99, up 0.48%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Dow Jones Industrial Average</a>: 31,458.99, up 0.09% (28.29 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: 14,095.47, up 0.5%</li></ul>Read more: <a href="https://www.businessinsider.com/stocks-to-buy-aerospace-stock-picks-vaccine-rollout-deutsche-bank-2021-2">Deutsche Bank says 'the time is now' to get bullish on the aerospace sector and handpicks 7 stocks to buy - including one with an upside of over 40%</a><a href="https://www.businessinsider.com/bitcoin-price-prediction-100k-after-tesla-investment-dogecoin-brandon-mintz-2021-2"></a>The emergence of new COVID-19 strains threatens optimism around an improving pace of vaccination. The US administered 1.62 million doses per day on average last week, bringing the nationwide total to 48 million vaccinations. President Joe Biden announced Thursday the drive will accelerate further still, with the US completing orders for 100 million additional doses from Pfizer and Moderna.Public health experts have warned the shots are less effective against new strains of COVID-19, hampering forecasts for a complete elimination of the virus.Coronavirus case counts suggest that, so far, the strains aren't plunging US into another wave of infections. The country reported 103,024 new cases on Thursday, down significantly from levels seen just one month ago. Hospitalizations declined further to 74,225, according to <a href="https://covidtracking.com/data">The COVID Tracking Project</a>.Read more: <a href="https://www.businessinsider.com/investing-strategy-for-market-crashes-risk-parity-etf-damien-bisserier-2021-2">One of Wall Street's most popular self-defense strategies failed during the coronavirus meltdown. Ex-Bridgewater advisor Damien Bisserier was among the few who made it work, and he told us how he did it.</a>Energy and material stocks outperformed through the session. The utilities and real estate sectors lagged.Earnings season continued. <a href="https://markets.businessinsider.com/stocks/dis-stock">Disney</a> gained after reporting earnings and revenue above Wall Street's expectations. Subscribers for its Disney Plus streaming service neared 95 million even as a free-trial deal with Verizon customers ended, the company said.<a href="https://markets.businessinsider.com/news/stocks/bumble-stock-price-initial-public-offering-ipo-whitney-herd-bmbl-2021-2-1030077857">Bumble gained again</a> after soaring 64% in its Thursday trading debut. The dating app raised $2.2 billion on Wednesday offering 50 million shares for $43 each. The post-IPO pop suggests demand for new offerings will remain strong in 2021.<a href="https://markets.businessinsider.com/news/stocks/coherent-stock-price-surges-iv-ii-buyout-offer-2021-2-1030078771">Coherent climbed</a> after electronic-parts manufacturer <a href="https://markets.businessinsider.com/stocks/iivi-stock">II-VI Incorporated</a> bid $260 per share to acquire the company. Coherent has been at the center of a bidding war in recent weeks that also includes <a href="https://markets.businessinsider.com/stocks/lite-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Lumentum</a> and <a href="https://markets.businessinsider.com/stocks/mksi-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">MKS Instruments</a>.<a href="https://markets.businessinsider.com/news/stocks/fisker-stock-price-morgan-stanley-overweight-stands-out-ev-space-2021-2-1030078363">Electric-vehicle company Fisker soared</a> after <a href="https://markets.businessinsider.com/stocks/ms-stock">Morgan Stanley</a> analysts deemed the firm one of the "most compelling strategies and positive risk-reward skews" in the sector. The bank initiated coverage on the company with an "overweight" rating.Bitcoin stabilized around $47,500 after falling from <a href="https://www.businessinsider.com/bitcoin-price-climbs-to-a-new-record-high-cryptocurrency-2021-2">a record-high of 48,925.53</a> Thursday night. Backing from industry giants including <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> and <a href="https://markets.businessinsider.com/stocks/bk-stock">BNY Mellon</a> has reinvigorated the cryptocurrency and lifted prices throughout the week.Spot gold edged as much as 0.81% lower, to $1,810.67 per ounce. The US dollar strengthened against a basket of Group-of-20 currency peers and Treasury yields climbed.Oil prices erased early losses and climbed into the afternoon. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">West Texas Intermediate crude</a> rose as much as 2.7%, to $59.82 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, gained 2.8%, to $62.83 per barrel, at intraday lows.Read more: <a href="https://www.businessinsider.com/stock-market-biggest-increase-in-short-interest-gamestop-reddit-goldman-2021-2">Goldman Sachs identifies the 25 stocks that short-sellers piled the most bearish bets upon even as Reddit traders squeezed out Wall Street</a>

US stocks close at record highs as traders weigh recovery optimism against valuation concerns

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/index/nasdaq_100">Markets Insider</a></div></div></div><ul><li>Semiconductor stocks dragged major equity indexes lower on Thursday.</li><li>The selling pressure stemmed from disappointing earnings guidance from Taiwan Semiconductor, which stoked fears of a global smartphone market slowdown.</li></ul>The tech-heavy <a href="http://markets.businessinsider.com/index/nasdaq_100" target="_blank" rel="noopener">Nasdaq 100</a> index dropped as much as 1.2% on Thursday amid concerns over a global smartphone market slowdown and the residual effect it could have on microchip manufacturers.The bellwether <a href="http://markets.businessinsider.com/index/philadelphia_semiconductor" target="_blank" rel="noopener">Philadelphia Semiconductor Index</a> (SOX) saw losses exceeding 4.5% after <a href="http://markets.businessinsider.com/stocks/tsm-stock" target="_blank" rel="noopener">Taiwan Semiconductor</a> released second-quarter margin and sales outlooks that fell short of analyst estimates. The disappointing guidance stoked fears that smartphone demand is slowing, and highlighted the unpredictable nature of chip stocks, which are also closely tied to <a href="http://www.businessinsider.com/category/cryptocurrencies" target="_blank" rel="noopener">cryptocurrency</a> mining.Leading the way lower in SOX was <a href="http://markets.businessinsider.com/stocks/mksi-stock" target="_blank" rel="noopener">MKS Instruments</a>, <a href="http://markets.businessinsider.com/stocks/entg-stock" target="_blank" rel="noopener">Entegris</a>, <a href="http://markets.businessinsider.com/stocks/amat-stock" target="_blank" rel="noopener">Applied Materials</a>, and <a href="http://markets.businessinsider.com/stocks/lrcx-stock" target="_blank" rel="noopener">Lam Research</a>, which all fell more than 6.7%. Meanwhile, American depository receipts for Taiwan Semiconductor, which trades in Asia, lost 5.9%.Elsewhere, all but 12 companies in the Nasdaq 100 absorbed losses on the day, with other chipmaker stocks like <a href="http://markets.businessinsider.com/stocks/swks-stock" target="_blank" rel="noopener">Skyworks Solutions</a>, <a href="http://markets.businessinsider.com/stocks/qcom-stock" target="_blank" rel="noopener">Qualcomm</a>, <a href="http://markets.businessinsider.com/stocks/mu-stock" target="_blank" rel="noopener">Micron</a>, <a href="http://markets.businessinsider.com/stocks/intc-stock" target="_blank" rel="noopener">Intel</a>, and <a href="http://markets.businessinsider.com/stocks/nvda-stock" target="_blank" rel="noopener">Nvidia</a> filling out index's bottom decile.Meanwhile, the <a href="http://markets.businessinsider.com/index/dow_jones" target="_blank" rel="noopener">Dow Jones industrial average</a> lost 0.7% on Thursday, while the benchmark <a href="http://markets.businessinsider.com/index/s&amp;p_500" target="_blank" rel="noopener">S&amp;P 500</a> slipped 1%. Even after the loss, the Philadelphia Semiconductor gauge is still up 2.6% year-to-date. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/wall-street-bull-explains-trade-war-trade-war-fears-overblown-2018-4">Wall Street's biggest bull explains why trade war fears are way overblown</a></h3> <div> </div> </div>

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Coherent surges 16% after electronic-components maker II-VI Incorporated offers $260 a share in buyout bid

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