Arris (ARRS +1%) adds to yesterday's gains after Needham's Richard Valera estimates the Motorola...
Arris (ARRS +1%) adds to yesterday's gains after Needham's Richard Valera estimates the Motorola deal (I, II) will triple Arris' sales and double its EPS, albeit while adding $2B in debt. While concerned about the outlook for Motorola's set-top business - home gateway sales might not ramp fast enough to offset declining set-top sales - Valera thinks there's "likely more upside than downside" to synergy forecasts, given Motorola's poor margins and the overlap between the companies' businesses.
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