• Shares of chipmaker Qorvo surged 13.4% after activist investor Starboard Value Partners disclosed a $500 million stake in the company, representing 7.7% of Qorvo's outstanding shares. This news sparked optimism among investors, as activist involvement often leads to shareholder-friendly initiatives.

• Qorvo, whose largest customer is Apple (accounting for over one-third of its revenue), specializes in radio frequency chips for smartphones and tablets, alongside products for connectivity, sensors, aerospace, defense, and cellular infrastructure. Despite its diverse offerings, Qorvo's stock had dropped 29% over the past year due to weak smartphone sales, a shift to lower-cost Android phones in China, and a downturn in industrial chip demand.