Diamonds and Dogs
The chips keep going higher. As the broader market sells off, NXP Semiconductors (NXPI) is shooting higher up 15% on a Wall Street Journal article indicating Qualcomm is looking to acquire the firm at a value over $30 billion. Headquartered in the Netherlands, NXP makes high-performance mixed-signal processors for communications, security, automotive and industrial applications.
Deutsche Bank (DB) is dragging down the broader market. In a Bear Stearns or Lehman moment, Deutsche Bank is down 6% to a new 52 week low on concerns hedge funds and large institutional clients are pulling their accounts from the German bank due to liquidity fears. Similar to Bear Stearns and Lehman, these allegations can be self-fulfilling if everyone believes they are true.
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.