Wall Street Climbs on Easing U.S.-China Trade Tensions [The New York Times]
ACACIA COMMUNICATIONS (ACIA)
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Source: The New York Times
By Reuters May 14, 2018 (Reuters) - U.S. stocks notched up gains on Monday on signs of easing trade tensions between the United States and China after President Donald Trump softened his stance on Chinese technology company ZTE Corp. Trump on Sunday pledged to help ZTE get back into business, fast nearly a month after the U.S. Commerce Department banned American companies from selling to the firm for violating an agreement. Trump's comments came ahead of trade talks between Chinese Vice Premier Liu He and U.S. officials this week. There has been calmer trade headlines, we haven't seen the rhetoric pick up, said John Augustine, chief investment officer at Huntington Bank in Columbus, Ohio. Shares of some of the biggest suppliers to ZTE, including Acacia Communications, Oclaro and Lumentum Holdings rose between 11.1 percent and 4.1 percent. Chip stocks got a boost from news that China had resumed its review of chipmaker Qualcomm's proposed $44 billion takeover of
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