IC TIP UPDATES:
Xaar (XAR) shares vaulted 23 per cent in morning trading after the inkjet technology specialist announced that it had agreed to sell 20 per cent of its holding in its 3D business to Stratasys for $10m, which currently holds 15 per cent. Stratasys has also been given the option to buy the remaining 55 per cent that it does not already own for at least $33m, which is exercisable over three years. Stratasys, an American 3D printing outfit, was granted the option to take its stake up to 30 per cent following the acquisition of its initial stake in 2018 - it will take its stake up to 25 per cent in exchange for $4m and cancel the remaining unexercised part of this option. Xaar has much to do in its strategic review of its thin film business, and we retain our rating. Sell.