Diamonds and Dogs
Semiconductor index is trading at new all-time high. Chipmaker, Xilinx (XLNX) is up 13% on rumors AMD is in advance talks to buy the company. NXP Semiconductor (NXPI) is up 4% after raising guidance for the current quarter. The chip stocks are back.
Amgen (AMGN) lower on a downgrade. The drug maker is down 2% today after dropping 6% yesterday following results of their heart failure drug achieved minimal medical significance. Investors are concerned doctors won't use it even if it gets FDA approval. Raymond James analyst slashed his commercial expectations for the drug, projecting 2025-year sales of $677 million, instead of his previous forecast for $2.6 billion.
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