NXP Shares Up 4%

NXP Semiconductors N.V (NXPI) shares were trading at $116.375 on last look Friday afternoon, for a 4.4% gain from the previous close, as one of the companies surging after reports the Trump administration has reached a deal to keep Chinese telecommunications company ZTE in business.

ZTE will be required to pay a substantial fine, place U.S. compliance officers at the company, and change its management team. The Commerce Department will then lift the order enacted in April that banned ZTE from buying U.S. technology components for seven years, for violating U.S. sanctions against Iran and North Korea.

The eased relations between the U.S. and China improves the chances the acquisition of NXP by Qualcomm (QCOM) will win Chinese antitrust approval.

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