- NXP Semiconductors (NASDAQ:NXPI), Micron (NASDAQ:MU), AMD (NASDAQ:AMD), and Acacia Communications (NASDAQ:ACIA) are among the companies moving after Treasury Secretary Steve Mnuchin said the U.S. and China will “put the tariffs on hold for now.”
- Mnuchin says the countries will work on a trade framework.
- NXP Semiconductors gains 2.7% on the improved conditions for an approved acquisition by Qualcomm (NASDAQ:QCOM), which is up 1.6% premarket.
- AMD gains 1.1% premarket, Micron gains 2.2%, and Nvidia (NASDAQ:NVDA) is up 1.1%.
- Acacia Communications shares are up 5.2% because the company gets 20% of revenue from China’s ZTE.
- Other ZTE suppliers that could move on the news: Oclaro (NASDAQ:OCLR), Skyworks (NASDAQ:SWKS), and Silicon Labs (NASDAQ:SLAB).
- Previously: Acacia, NXP Semi among movers on U.S.-China thaw (May 14)