Stocks Rise; Banks Dive As Qualcomm-NXP, CBS-Viacom M&A Talk Heats Up
The S&P 500 breached its 50-day line again as stocks sank Thursday, while oil hit a one-month high during the session. Merger talk heated up with reports that Qualcomm (QCOM) may acquire NXP Semiconductor (NXPI), plus continued chatter about a CBS (CBS)-Viacom (VIAB) deal. Deutsche Bank (DB) tanked, taking other banks down with it, and Mylan's (MYL) EpiPen business is under further scrutiny. Meanwhile, Fitbit's (FIT) Charge 2 is said to be getting off to a slow start.