Cypress Soars 68 Percent on Arbitrage; Once in a Lifetime Trade

Shucks. Like me, you may not have bought shares of chipmaker Cypress Semiconductor (CY) yesterday after it fell about 25 percent. Too bad if you didn’t, because the shares have soared over 68 percent today, up $2.13 at $5.23. It’s a bit complex if you haven’t tuned in for awhile, but hear me out.

Cypress bankrolled a solar power technology company called Sunpower (SPWR), and spun it out in 2005. Cypress for the last year traded mostly on the value of its Sunpower holdings. For most of that year the existing Cypress chip business was being valued at almost nothing. Then Cypress decided to spin out its Sunpower shares. Today was the official first day of Cypress trading, separate from its Sunpower interest.

Read the rest of this post

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »