Samsung's Harman to Acquire Masimo's Sound United Consumer Audio Business for $350 Million
'Finding the right home for this business has been a stated priority of the new board from day one, and this transaction represents an important milestone as we continue to position the company to achieve our goals of accelerating revenue growth while delivering disciplined margins. Masimo has tremendous opportunities ahead, and we are confident we have the right healthcare-focused strategy, experienced leadership team and culture of innovation in place to build on our significant positive momentum,' said Quentin Koffey, vice chairman of Masimo's board of directors, in a statement.
Sullivan & Cromwell served as legal adviser to Masimo.
Information for this article was sourced from Harman.
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This week marks the busiest week of the second-quarter corporate earnings season, and some of the world's biggest companies are on the docket. In coming days, 151 companies in the S & P 500 are slated to release their latest quarterly results. That includes four of the "Magnificent Seven," Meta Platforms and Microsoft on Wednesday and Amazon and Apple on Thursday. They will follow those from two other notable megacap technology companies, YouTube and Google parent Alphabet and Tesla . Alphabet shares closed higher Thursday after second-quarter earnings and revenue topped expectations, while Tesla shares nosedived after the electric vehicle maker saw auto sales decline for a second consecutive quarter . Corporate earnings have proven strong so far, with more than 82% of the 169 S & P 500 companies that have reported beating Wall Street's expectations, according to FactSet data. Here is CNBC Pro's breakdown of what to expect in some of the coming week's most notable reports. 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