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Actionable news in LRCX: Lam Research Corporation,

Regulatory Delays Threaten KLA-Tencor Deal

Lam Research (LRCX) and KLA-Tencor (KLAC) warned Wednesday that their planned $10.6 billion merger isn't likely to secure needed regulatory approvals before the Oct. 20 termination date contained in their merger agreement.

The announcement seemed to catch investors off guard, sparking sparked selloffs in both companies. Through mid-afternoon KLA-Tencor shares had dropped from the $76.45 opening to $69.45 and Lam shares from $93.15 to $88.41.

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The companies declined to say...