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.