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Fly News Breaks for October 28, 2016
QCOM, NXPI
Oct 28, 2016 | 07:17 EDT
Oppenheimer analyst Rick Schafer downgraded NXP Semiconductors (NXPI) to Perform from Outperform after Qualcomm (QCOM) announced a deal to acquire the company for $110 in cash and as NXP Semiconductors fundamentals take a backseat. The analyst believes the deal is a strategic combination of complementary businesses.
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