AMD HIRES Chip Architect and 4 Stocks Falling to 52-Week Lows

Advanced Micro Devic (NYSE:AMD): Apple Insider reports that former AMD chip architect John Bruno has been hired as Apple’s (NASDAQ:AAPL) system architect.  The shares closed at $4.22, down $0.64 or 13.17% on the day. They have traded in a 52-week range of $4.31 to $8.35.

Credit Suisse Group (NYSE:CS): According to Bloomberg, Britain’s budget deficit last month was larger than economists forecasted, which raised doubts concerning whether or not Chancellor of the Exchequer George Osborne will be able to meet his fiscal goals for the full year. The shortfall was GBP14.4 billion compared last year’s GBP13.9B,   according to the Office for National Statistics. The shares closed at $16.97, down $0.66 or 3.74% on the day. They have traded in a 52-week range of $16.95 to $37.80.

Cypress Semiconducto (NASDAQ:CY) extended its tender offer for the acquisition of all of Ramtron International Corporation’s (NASDAQ:RMTR) outstanding stock for $2.68 per share in cash to 5:00 p.m., New York City time, on August 3, 2012. Previously, the offer was scheduled to expire at 12:00 midnight, New York City time, on July 19, 2012. Cypress’s offer shows a 48 percent premium over Ramtron’s closing price of $1.81 per share on June 11, 2012, the day prior to Cypress’ public announcement regarding its offer for Ramtron. The all-cash offer is not conditioned on either due diligence or financing. Also, Cypress announced today that the waiting period pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to its acquisition of Ramtron expired, and Cypress has received the necessary regulatory clearance pursuant to the German merger control laws. Cypress does not view any other regulatory approvals as necessary in connection with the acquisition. Cypress keeps the belief that its offer reflects full and fair value as well as delivering Ramtron’s stockholders with immediate liquidity at a substantial premium in an extremely volatile market.The shares closed at $10.81, down $0.78 or 6.73% on the day. They have traded in a 52-week range of $11.06 to $22.57.

Banco Santander (NYSE:SAN): According to Bloomberg, Britain’s budget deficit was larger than economists forecasted, which raised doubts concerning whether or not Chancellor of the Exchequer George Osborne will be able to meet his fiscal goals for the full year. The shortfall was GBP14.4 billion compared last year’s GBP13.9B,   according to the Office for National Statistics. The shares closed at $5.11, down $0.45 or 8.09% on the day. They have traded in a 52-week range of $5.19 to $11.30.

Sunpower Corp. (SPWR): As tensions grow between major solar manufacturers,  China’s Ministry of Commerce will investigate imported U.S. and South Korean solar-grade polysilicon, according to Reuters. The shares closed at $4.45, up $0.07 or 1.6% on the day. They have traded in a 52-week range of $4.37 to $22.51.

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