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  • Toshiba sells chip unit for $18bn
    Business
    BBC News

    Toshiba sells chip unit for $18bn

    Toshiba has sold its prized semiconductor business to a group led by US private equity firm Bain Capital for around $18bn (£13.3bn). The deal is designed to cover billions of dollars in losses racked up through Toshiba's US nuclear unit. The Japanese firm was almost delisted this year after delaying the publication of its financial results. In the end, it reported losses of $8.8bn for the last financial year. Toshiba is the world's number two chipmaker and its Toshiba Memory unit accounts for about a quarter of its revenue. Bain Capital has partnered with South Korea's SK Hynix Inc and brought in US buyers of Toshiba chips such as Apple and Dell to bolster its bid. In a statement, Toshiba said

  • Apple Falls Below Key Level In Heavy Volume, But Is It A Sell Signal Or No?
    Business
    Investor's Business Daily

    Apple Falls Below Key Level In Heavy Volume, But Is It A Sell Signal Or No?

    Apple (AAPL) is falling nearly 2% in heavy volume, breaking below a significant technical level. With the breach of the 50-day line, that also puts Apple below a prior buy point at 156.75. But the key question here: Does Apple's action result in a sell signal? The short answer is that it depends on how the stock closes today, and whether you're a long-term or short-term shareholder. Apple was down 1.9% to 155.67 in afternoon trading in the stock market today, tumbling as low as 153.83 on Apple Watch connectivity concerns. Volume is more than double normal levels. If Apple closes below the 50-day, it could be seen as a sell signal for those that bought the stock at the 156.75 entry. But we need

  • Stocks Follow Apple Post-Fed; Big-Dividend Tech In Buy Range?
    Business
    Investor's Business Daily

    Stocks Follow Apple Post-Fed; Big-Dividend Tech In Buy Range?

    Key U.S. index funds were lower Wednesday after the Fed held rates steady, as expected, and said it would start trimming its balance sheet by October. XAutoplay: On | OffPowerShares QQQ Trust (QQQ) sank 1%, SPDR S&P 500 (SPY) fell 0.4% and SPDR Dow Jones Industrial Average (DIA) gave up 0.2%. Apple (AAPL) weighed with a 2% drop, which put the iPhone maker back below a 156.75 buy point as it breached its 50-day moving average. Oil funds led the upside as West Texas intermediate crude prices surged 2% to $50.43 a barrel. SPDR S&P Oil & Gas Exploration & Production (XOP) rose 2% and VanEck Vectors Oil Services (OIH) added 1.4%. United States Oil (USO) and PowerShares DB Oil (DBO) rose nearly 1%