Diamonds and Dogs
ARM Holdings (ARMH) is flexing its muscle. The British based semiconductor firm is soaring more than 40% to a new 52 week high after agreeing to be bought out by Japan's SoftBank (SFTBY) for $31.4 billion in cash. Thanks to Brexit, the deal is 30% cheaper for Softbank due to the currency fluctuations between the British pound and the Japanese yen. The deal, however, has potential future ramifications affecting their key partners including Apple.
The Force is not with Hasbro (HAS) today as the stock sinks 7%. The maker of Monopoly and Play-Doh on Monday said its revenue rose by 10 percent in the second quarter from the year before, with toys tied to Frozen and Star Wars. But Wall Street seems worried that consecutive quarters of slowing growth in Hasbro's boys segment is stoking fears Star Wars toys aren't lighting up sales as much as hoped. One future bright spot, Hasbro does have Disney releasing another new movie and new toys tied to the Star Wars movie, "Rogue One," at the end of the year.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.