Posts From Ian Maguire
Infineon To Acquire Cypress Semiconductor For €9 bln.
The German chip maker, Infineon, is acquiring the US company Cypress Semiconductor Corporation (NYSE: CY) in a deal valued at 9 billion euros ($10.06 billion), including debt. Cypress designs and manufactures flash microcontrollers and memory chips that are used
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Elon Musk Says Tesla Is Lagging In Vehicle Deliveries
In his internal memo to employees, the second one in the past two weeks, Tesla Inc.’s (NASDQ: TSLA) CEO Elon Musk has opined that the company is lagging in deliveries but continues to see robust demand for its models.
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Canadian Dollar Declines On Housing Sector Concerns
The Canadian dollar started its downward trend against major G10 rivals yesterday even as the federal government brought a motion that would approve the historic USMCA (US-Mexico-Canada Agreement). One of the reasons for the weakness seen in the loonie
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RBA’s Dovish Stance Turns Aussie Bearish
The Australian dollar plunged yesterday after the Reserve Bank of Australia hinted that it might slash interest rates in the upcoming monetary policy meeting. Even though the market participants were expecting a cut in the benchmark interest rate in
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Pound Plunges As Cross-Party Brexit Talks Collapse
The Sterling pound dropped against the greenback on Friday to fresh 4-month lows as cross-party Brexit talks crashed ahead of the imminent departure of Theresa May. The Labor Party abandoned the discussions formally stating there is no necessity to
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Teva Hit With Price-Fixing Lawsuit By 44 US States
Teva Pharmaceutical Industries’ (TEVA) shares plunged this week after 44 US states filed a case against the company and an additional 19 generic pharmaceutical businesses over accusations of a substantial drug price-fixing scandal worth billions of dollars. The damage
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Pound Strengthens On Rumors of Theresa May’s Resignation
The British pound moved sideways against the greenback on Friday, despite the announcement of strong UK GDP data in the early London session and multiple upbeat economic data. That was the second consecutive session in which the GBP/USD currency
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Malaysian Ringgit Falls As Negara Cuts Interest Rates
Yesterday, Malaysia’s central bank, Negara, announced a cut to the prevailing interest rates in approximately three years to assist economic expansion and offset challenges from the global economic slowdown, trade unrest, and commodity price vulnerability. Also, the central bank issued
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Pound Strengthens on Rebound In Services PMI
The Sterling pound recorded its daily low against the greenback in the early European session on Friday after the news broke that the UK government has hardly made any progress in its cross-party Brexit talks. However, the GBP/USD currency
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Philips Reports 5% y-o-y Increase In 1Q19 Sales
Shares of Philips Electronics NV (NYSE: PHG) yesterday rallied 4.47% to close at $43 after the Dutch consumer electronics company posted a year-on-year increase in profit in the first quarter of fiscal 2019, with an increase in sales and
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