7:33 am KLAC Clicks with Leveraged Recapitalization Plan
Chip equipment maker KLA-Tencor (KLAC 71.00) reported its fiscal first quarter results after the close on Thursday and issued second quarter guidance that fell below analysts' expectations. That, however, has almost been an afterthought given the company's additional news that it is going to pursue a leveraged recapitalization that features a special cash dividend of $16.50 per share.
Shares of KLAC traded up nearly 20% following the announcement and are now indicated 10% higher in pre-market action.
The recapitalization …More