james: i own bhp.fident they are long-term winners and what will be an externally difficult sector. francine: five years or longer? james: within five years i see -- i expect to see them materially better than they are today. if you think about what really ends bull markets is excess b and deploy so margins are shrunk because of too many players being there. in commodity space, we are seeing a huge retirement upper disciplines. that is excellent long-term news for those buyers. bhp and rio are the two players on whom we can rely. jesse: i think that is right. we saw an interesting note from merrill lynch last week where they said that bhp and rio could raise $21 billion in equity which may be a bit pudgy. t-- punchy. these companies are the best to emerge from this rout. i would agree with that. francine: when you look at the following commodities, it has repercussions. we heard from the norwegian government saying they will struggle as the oil continues to slump. i want to show you a chart. as you see

maybe it's not just many of the miners like bhp but also the likes of shale. they haven't cut their dividend in 40 years. >> but many are saying they're going to continue with the dividend pay out or will be t last thing they will cut if they can get away with it and you have to wonder, are they just going to be squeezed out now? given the price of oil? because suddenly also it's an issue of whether it becomes cheaper for them to be able to import oil from africa or whatever that they import at really cheap prices as opposed to producing at home themselves. >> and you would think that defaults would continue to rise. we've seen some of them but the big wave maybe that's the big story. >> that's it for the show. >> yeah come back in and visit us after you become two. after you morph. so carolyn thank you for this week and we'll see you in a couple of months then. >> yeah. >> that's it for the show as carolyn says. >> worldwide exchange is up next. you'll see louisa next week. >> bye. the flu virus hits big. with aches, chills, and fever, there's no such thing a

taking alook at bhp bit of a hit. iron ore forecast is responsible and made worse after the disaster in brazil. ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. ♪ equities resuming declines. oil prices unsettling a nervous market. gains,ave up tuesday's led by oil producers. output.its outcast for the regional benchmarks are falling by 10% this year. the biggest offshore oil company is producing just 285 million barrels this year. it is one of the first major producers to confirm and output cut. outlook,ut its growth blaming the commodities slumped and a rising dollar. they say the regional economy wil

leading miners, bhp and rio tinto sliding this morning after a selloff in london.et to sydney now. quite a few reasons for this selloff, aren't there? >> there are, indeed. we will deal with bhp first. not only are they struggling under the weight of falling crude prices. futures concern over the of china's economy as well and what that means for demand for some of bhp's key products. yes, they sold off 4.9% in london overnight. enjoying a similar ride in australia today. point 79%.ff three as similar story for rio tinto, down 4.8% in london, currently off 4.1% here in australia. the bank of america published a report overnight, suggesting that bhp and rio tinto might , 21 sell chairs that shares billion dollars between them, to reduce reliance on debt and assist them in buying distressed at met -- assets. bake of america pointing out that this is a tactic that smaller competitors glencore and freeport have employed. if this report is correct, one would think that would be yet another nail in the coffin of bhp's controversial progressive dividend policy. rishaad: t

david: i don't think bhp is sale of itsg any shale assets. it did attempt to sell fayetteville, one of its assets. it said it could not achieve the kind of price it was looking for. that is probably still the case now. it is unlikely they will find buyers who offer the kind of value bhp would want. in the mediumnt and long-term outlook. long-term, they think they can offer value for the company. once the oil and gas prices recover. shery: thank you for that update. joining us from november. take a look at some of the other stories we are watching today. yvonne with a roundup. in tokyo.aring shares, rising 13%. that is the most in almost three years after reports that o they may up the ante for the company. just this week, sharp was said to be considering selling a stake in its lcd operation. that this business, after booking $10 billion in losses over the past four years. sharp's tvrcut business. talks floundered over disagreements on price. it may promptsay them to raise their offer for sharp permit let's talk about taiwan semi conductor. ri

bhp up by about 0.4%.often seen as a one trick pony as an iron ore specialist but is now being more favored a you havep billiton made a number of improvements the gas and coal assets. we are seeing a little bit of a correction in the consumer space . it is giving back about half a that today. blackmore had a stellar year last year. i just want to do a quick check of the aussie dollar. ofe seen a little bit stability return to these commodities. aussie holdinghe steady ahead of the china gdp. they're changing their output because of the global glut in iron ore let's get more from david stringer. real telling us about -- what is rioio telling us? >> finance the production report for the last three days of 2015. it showed in the full year their production rose about 11%. in 2016 they're forecasting growth of about 7% . certainly at the very least it begins to moderate the pace of those expansions. bhp is a second base -- biggest exporter after reario. of those big x trillion exporters are limiting production

it's negative news with bhp, the pain of the commodity rout.ne miner happens to be the biggest shale.s investor in u.s. oil is, down sub $31 -- oil is down, sub $31 per barrel. they are cutting their count on the shale unit from 7% to 5%, and their investment and development plans are under review as well. the key issue is the last point on that screen -- the dividend. iwill the dividend remain the same or improve? analysts are already jumping the gun, saying they think that the bhp billiton could slash its dividend by half. course, you are talking me through those moves in australia -- billiton isn't alone, are they? caroline: they are certainly not. there has been a wave of negative news, with rio tinto saying pay is on freeze. you have japanese conglomerates having to take a charge on its nickel holdings in madagascar. and this is widespread. this is in just about the commodities sector. this is wreaking havoc across so many industry groups, because oil has become the tail that market. we are seeing analysts downgrading earnings potential an

bhp will write down the value of its u.s.shale assets by 7.2 beside.ove sparking speculation that they'll be forced to cut the dividend for the first time in more than 20 years. a sharp move for bhp down 7.5%. we also have the aussie dollar off 1.5%. goldman sachs will pay $5 billion to resolve civil claims related to the mortgage backed securities from 2005 to 2007. the bank says it will reduce fourth quarter earnings by 1.5 beside after tax. it's flat in today's trade. analog devices cutting it's revenue guidance. the company is a key supplier to apple. they blame weaker than expected demand in it's portable unit down 2.2%. >> amazon wants to cut out the shipping middleman now. they may be setting their sights on the high seas. landon, i guess trucks planes and now ships. >> trains, planes and automobiles. amazon's china division registered to become a licensed ocean freight forwarder. the move would allow amazon china to coordinate cargo shipments between china and the u.s. amazon wouldn't be buying and operating it's own ships. they take on the leg

bhp and his partner are being sued for $5 billion.ning the loss of another star. the eagles cofounder glenn frey has died at the age of 67 after complications from pneumonia and other ailments. he formed the eagles with don and they wrote a string of hits before splitting up and performing. in a post on his website, his family, bandmates, and management, express their sorrow and love for what he has given them. frey dead at the age of 67. china is emerging as a legitimate challenger to u.s. leadership of the technology industry. $37 billion in mainland startups last year, more than double the previous year. what was behind the boom last year? >> a lot of interest in chinese startups because there is a lot to be made in the exit. the alibaba ipo, you can find the winners in the chinese market. the e-commerce numbers in china are mouthwatering. from $4 billion to $15 billion to $37 billion. rishaad: we have seen this boom continue elsewhere and the growth of so many companies. shai: exactly. there has been a boom globally last year with

what do you make of bhp? >> probably the best diversified global miner out there, probably the best balance sheet. i don't think this news changes their fortune. it's probably pegged to cop other, iron ore and the rest of the complex. it's why i think oil is starting to rally, because again, rate caps are down. that is not sustainable to production. >> fiat chrysler getting wrapped in a scandal after two dealerships are accusing the automaker of inflating sales. >> the complaint comes down to this. you've got a dealership group in illinois which says at our fiat chrysler dealerships, we were encouraged to mark sales at the end of every month even though we weren't reaching sales targets. saying hey, if you don't have it, market it to meet volumes next month. the suit uses the rico statute because napeleton is accusing other dealers for being co-conspirators, going along with this and marking sales that had not taken place. we reached out in the lawsuit statement from the napleton complaint says fca actions ha

bhp -- another $7 billion? >> it depends on which side of the trade you are on, what side of the business it's on. but from an overall economics point of view, to adjust the local development is a good thing. francine: right. but taking it back to the chinese currency, there is so much concerned that this will have to be devalued it fullyntly, that to deflationary pressures, and this is the biggest risk of a possible recession. are we going to avoid? >> all>> of that is true but the word recession is not appropriate. there is no question that the chinese will depreciate, but certainly that top single digit number -- it's driven by capital outflow. that capital outflow is not because of china's lack of confidence in our economy. it is because of the diversification issues. if you are a chinese manufacturer, $50 million in the bank, you want to put half of that outside china. it has gone through stability and it will do so again. diversification is not a vote of lack of confidence. large body of our viewers don't

it is going to be a tough result anglo for rio, bhp, american.uys have positioned themselves to guy assets -- two buy assets. . francine: think you so much for that analysis. john meyer a partner at sp angel. let's get to caroline hyde. caroline: after a tumultuous week, chinese markets ended the day up this morning after state control funds intervened against to support stocks. yesterday regulators scrapped t hat experiment with a circuit breakers. the central bank has moved to destabilize yuan. we get the latest u.s. jobs data today. the global effects of the strong dollar -- the report will be closely watched. payroll gains near 200,000 will probably provide reassurance about growth prospects. a lackluster report will almost certainly act as a wall of worry has washed over the financial markets this week. the global slowdown has hit german and french industrial production. the former saw output sliding 0 .3% in november. meanwhile, france's investor production dropped 0.9%. and shell's ceo says it's taken group remains on track for completion

i went over their upgrades. >> bhp's yield is up over 11%. that's as unsustainable as other yields. >> as kmi when it was 13%? >> bhp does have fire power. that's the kind of company that will make it. tremendous fire power. but they have iron. iron ore is incredible how low that is. again, this commodity crash is all about houston and our country. but it's all about whole countries in latin america. >> right. i think it is important -- you mention it -- the geopolitical ramifications of $29 oil or 25 if larry fink is right, wherever we may head, whether it's saudi arabia or venezuela or russia. russia -- these are significant implications. >> a lot of oil men come on saying it's a big mistake for saudi arabia to do what they do. people don't understand, saudi arabia and iran are totally at odds. saudi arabia wants to wipe out production away from it, i including iran. they want to make it so others don't go to iran. the saudis are trying to drive out our marginal barrels, but they can't because we have all of this gulf of mexico oil coming o

stock like bhp was $100 stook in 2011 and it's at $20 right now.ou're talking about for value investors, this is exactly the time when you're supposed to be buying bhp. >> berkshire was loading up -- >> i'm not saying -- i think it's extremely hard to time these things, when you ask yourself about the relative carnage going on, we talked about it a bunch of time. would i rather own a share of facebook or exxon or share of twitter or bhp? those are the kind of tradeoffs investors have to make all the time and usually the time to sell bhp was in 2011, not 2016. >> fair enough. the sum may be greater than the parts for apple's iphones but its parts and parts makers are partly to blame for investors bailing on stock. slowing user growth have sent netflix down this week. ♪ they may want the latest products and services, but they demand the best shopping experiences. they're your customers, and as you strive to meet their digital expectations, they're enjoying more choice and greater power than ever before. at cognizant, we're helping the world's top glo

bhp billiton shares dropped more than 6%. it wrote down the shares of it shale assets and the united states. that is another effect of the oil prices. shale assets in the united states have taken a beating in the last year and a half or so. we have seen oil prices trade prices,longside oil emerging-market current seas also coming under pressure on friday. the russian ruble has been falling back to lowe's. -- lows. crude is a major source of income for russia. the benchmark index dropping more than 4%. from one emerging-market to another, brazil and rio de janeiro are gearing up for carnival. preparations are underway. even though the annual party is three weeks away. a deepening recession and unemployment is damping the mood. carnival,run-up to the atmosphere is usually jubilant. this time around, result's economic woes are damping the mood. they have forced them to cut production and let go of staff. >> we are making 30% less than we were last year, which was not a great year in itself. this year is much worse. 30% is a lot

that painted the picture for bhp today. as if i could not get any worse. you are already the biggest miner. invested billions of dollars in oil back in 2009. the air down in the united kingdom i would have seen miners feeling the pain. at last,oup is up .9%. we get a sign of that you can pay 12.5 billion pounds for ee. the chief commercial officer group. the ceo of the ee the ee group drives higher. in the green, many have called this stock lower. why? the chip designer. overnight with the earnings from intel driving this stock lower. they said we are warning you about softer 2016. the of worried about the slowdown in the market. until goes lower. thank you, caroline. he was future is still pointing to a fairly negative one. let's find out what happened in the overnight session out of asia. david inglis has more from hong kong. david: friday started out well for asian investors. it almost looked like the best day we have had this year. it did not take long for us to close out another chaotic week. the shares are at fresh three-year lows. time it was at thi

bhp billiton is gaining by the most in sydney when saying it expects to have a right on u.s. shale.rite-down is almost $5 billion. further investment in u.s. shale will be subject to review. a check on how the markets have been trading in the asia-pacific market. we are back in three-year lows on the regional benchmark markets. crude oil is back below that level in asian trade. by china's market gave back the gains from late day yesterday session. hong kong is on its lunch break. leading gains was in the region but it has now turned negative in the last half hour. down by 4/10 of 1%. market alsoan coming under civilian pressure. the oil and gas players are being sold off despite a bounce in the early morning session. celko is off by about 2/10 of 1%. tech stocks are up slightly. we will end a tough week in the red for asian stocks. now to a new way to beat the traffic blues. mahendra group has launched an electric bike weighing 230 pounds, lighter and easier to handle than most motorized two wheelers, and the first cloud connected scooter. where was it launch? you might be surprised

bhp has cut its four -- full year iron ore guidance.ction into june is now forecast to come in at 237 million tons, down 10 million on the previous estimates. the mine has been halted. it's being described as the country's worst environmental disaster ever. leaders will meet today for a five-year debate on the environment at home and abroad. the discussion will the divided between those who want to reserve ties with china and moved to the u.s.. the central committee will nominate his successor and other political posts which cart parliament will discuss in the summer. groups hope of becoming a semiconductor powerhouse could be facing a setback. he says that plans to acquire the world after second-largest chipmaker are being challenged by u.s. regulators and the chances of it happening are slim. speaking of the world economic forum he said he still wants to cooperate with them or other firms in the pursuit of breakthroughs in memory chips or integrated circuits. of things arend we talking about here. >> they say an option could be settin

bhp billiton, glenn karen anglo american are down by 6-12%. all 19 industry groups are falling today and falling. down by 7%,ces are travel and leisure down by 7%, automobiles down by 6%. the dax is 3% lower. this year it's down by 11%. every single stock on the dax has fallen this year led by bmw, daimler and volkswagen. betty: they ended 2015 on a low note. that's not a surprise but how bad was it? was worse than we first thought. datad market share day today. the market share in volkswagen shrunk for the first time since 2007. it was the omissions rigging scandal . new cars sold. registrations still rose by 6.2% in 2015 but it lagged the industry 9.2% gain. 16s carmaker has lost billion euros of value since september. has you saw, it's not just volkswagen. are gettingmakers hammered because of their exposure to china. it's the china flu. about 90 minutes into our trading session in the u.s. and we seem to be slipping down toward the lows of the session. the nasdaq is already down 10% this year. julie hyman has more. julie: this gives creden

but we will have to see what the other big producers do, including bhp which reports tomorrow.oking for to those numbers. normally we have to wait a couple weeks until we hear from the oil majors but we are getting an early look. ryan: that is right. we will get some interim numbers from shell tomorrow, europe's biggest oil producer. a chance to look at how the oil producers are being affected by these low prices. analysts going into the earnings statement we are going to get tomorrow think that adjusted profit may have fallen by as much as 39%. obviously,g drop, and profit. we heard earlier today from the ceo of total saying he expects profit to fall by 20%. be cutting won't your dividend and saying it is thanks to the fact they are an integrated oil company that they do not expect to lose any more than the 20%. histhen his -- came out, press secretary, and fact he was talking about the nine-month figure, suggesting not talking about the fourth quarter. with the integrated oil companies, what we have seen up until now over the last couple been saved byve refining margins. refi

the anglo-americans, the rio tinto's hand bhp billiton's.lined as in germany with bmw among them. the fear index of volatility fell yesterday 2% and his backup i 6% today after rising by 22% monday. where is the money flowing? you know the answer. the yield on the german 10 year is falling to .5% which is the lowest in the month. we are repeating today what happened monday. betty: it's sort of like groundhog day again. wasdata for the eurozone released so how encouraging was that? >> the eurozone composition which is a measure of manufacturing and services unexpectedly rose. that tells us that growth in the fourth quarter of last year could have been the strongest in 4.5 years. inflationthe lack of in the eurozone and what you've got is an economy that seems to be improving. bank lending is increasing and economic confidence is at a four-year high. capacity topanding meet increasing demand and market economics, the eurozone is well-placed to enjoy a year of robust expansion. the bank of england is considering services tooling in december sug

bhp. they got 11% yield. that's crazy. >> that may be a story going forward.hey have been hanging on to them and it's not a good thing like that. and when it's time to buy assets buy them. it does depend on where oil grows. there are a lot of stocks in the energy space. they have been talking about the dividends. bp comes to mind. >> give me your best name in the space. >> a refiner. a refiner and pipeline like marathon petroleum or kinder morgan. i don't want to be tied to which way oil is going. i don't know. >> cook, bezos, which ceo is better for money. debate on the leaders and stocks is just ahead. take a look at the dow 30 heat map. halftime after this. ♪ ♪ those who define sophistication stand out. those who dare to redefine it stand apart. the all-new lexus rx and rx hybrid. never has luxury been this expressive. this is the pursuit of perfection. >>> hello, everybody. here is your cnbc news update this hour. two gunmen wearing suicide bomb belts attacked amos k during friday prayers in saudi arabia. three people were killed. 18 more for wounded. one

bhp warning it sees no recovery in iron ore or coal prices but sees copper and oil prices bouncing back in the medium term and also suffering sharply in london trade. >> the miners, the energy producers. more to watch for you today here, ibm. sales falling more than 8% in the fourth quarter. the 15th straight quarterly decline. net profit falling almost 19% although adjusted earnings did manage to beat analyst estimates. the dollar ip spending weighing on results. the cfo was on closing bell yesterday and said $7 billion is how much the dollar cost ibm last year and expects that continue this year as they continue to transform the business. when we come back here on worldwide exchange the new numbers this morning showing $735 billion has been pulled from emerging markets in the last year. the man behind that report. the institution of international finance ceo tim adams joins us next. >> in case you didn't know it's earnings season. i asked you on twitter if earnings matter in a market like this. be sure to vote and we'll get the results throughout the show and discuss that further. as

bhp i think goes lower. they shouldn't pay a dividend at all. i think you're safe. that's the least of least momentum. >> next, a look ahead to next week's earnings plus a call in from stephanie link. ices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. td ameritrade. whoa. what's going on here? oh hey allison. i'm val, the orange money retirement squirrel from voya. val from voya? yeah, val from voya. quick question, what are voya retirement squirrels doing in my house? we're putting away acorns. you know, to show the importance of saving for the future. so you're sort of like a spokes person? no, i'm more like a metaphor. okay, a spokes-metaphor. no, i'm... you're a spokes-metaphor. yeah. ok. see how voya can help you get organized at voya.com. in

you'll be aware that bhp, which is unique amongst the global miners really for its big exposure to shalethis country, today took a write-down of over $7 billion on its u.s. shale assets. rio, for its part, now said it's a business that it freezes pay and curtails business travel. these are obviously companies that are under a huge amount of pressure. numura came through with a note downgrading by on average their price target by 13% within the space today, suggesting that a lot of these names which have really focused on debt reduction are now going to have to move on free cash flow generation cutting their current expenditures and really hunker down to prove that in real-time, if you like, that business models are sustainable. numura saying they need to push harder on the cash flow. it's another reason why these stocks continue to fall. let me just give you within that is in positive territory told. casino, which is one of the big french retailers, is trading up 4% after losing half its value during the course of the last year. do you remember that muddy waters about a month ago came th

there are still a lot of iron ore producers, bhp billiton included.hey are adding more and more supply to the market. guy: i want to go back to the oil story. get few weeks time we will the oil majors coming out with their numbers. how easy is it to get a front run of that? guy: this -- ryan: this year we are getting a nice early lead. they will come out with him from earnings tomorrow. alreadyysts are plugging the numbers and they reckon that shall's fourth-quarter earnings will have fallen by 39% year on year to just north of 3 billion at the end of 2014. that is pretty interesting. they have been scaling back their estimates for adjusted profit or the fourth quarter as we see the oil price fall. be of another read from the ceo who said their earnings will fall by 20%. they will not cut the dividend. thankfully he said, we are helped by the fact that we are an integrated oil company but then if he came out and said that was the nine-month forecast, which cuts out the fourth quarter. you detailsread from this. setting the 2016 net production at 470-4

i will be looking at rio and bhp, not because one wants to catch it, but because valuations -- at someyou should be thinking about committing capital. anna: what do you buy, then, in this environment? you have a talking about buying from airline stocks, and with oil prices continuing to fall -- >> of course. lower oil prices mean higher margin. there is no evidence at the moment that the global political tension a lot of people worry about are affecting the behavior of people wanting to fly. therefore we are seeing reasonable volume. we see constrained capacity. we see lower cost. we can expect better profits numbers in due course. jonathan: what does all this mean for the bond market when we wake up in 2016? is that story going to play out this year? james: i think the u.s. 10 year yield will oscillate between 2% and 2.5%. it will be quite noisy but it won't be as disastrous as some suggest. my reasoning there that we will have continued low inflation for an extended period, and the ichoring rate of cash -- don't subscribe to the view that we are likely to have four hikes this year. j

bhp, antofagasta were down, rose up and now back down again. a bounce given how badly all the stocks have performed. i would call that a modest recovery in a critical area. some of the automobile stocks over there also down are now up in the middle of the day. in the u.s., all ten sectors opened to the upside. tech, energy materials, consumer discretionary leading. lagging are consumer staples, telecom names. that's what you would think in an oversold market where tech, energy and materials are dramatically oversold. we'll talk about bank earnings in the next few days. tomorrow jpmorgan. we'll also get -- thursday jpmorgan. later on in the week citigroup and blackrock and pnc, regents financial. this will be on friday. what is quite amazing to me is the stocks are very, very cheap right now. one way to look at them is tangible book value. it's just a value of hard assets carried on the balance sheet minus intangible assets. when you're below one, you're betting into cheap territory. i picked an assortment of banks. we're getting into cheap terr

suffering the most but all of europe is down by 2% plus the ftse 100 itself down where the likes of bhpre off 5%. oil names also suffering and the exporters like burberry are suffering. bmw in germany suffering as well. so it's effecting everywhere. i want to come back to your discussion and joe you asked that question why don't they try to sort out the yuan first and that's the same question investors are asking. that's been the spark this week and the fact that it's continued to allow to devalue is why people are spooked because they're wondering whether the government is starting to lose control of the currency. it's propped up the currency for four or five years but the speed with which it is falling over the last week is spooking investors. now they would argue that the imf approval has already happened. or they would say that maybe china is now managing the currency against a basket of current sis and that's worth pointing out. it was, in fact, slightly positive against a trade weighted basket and if that is now their target then we have to look at those stats not just against the

bhp billiton has a big write-down of their shale assets.hat about the dividends look pretty fresh, and for a lot of people they look at that dividend thinking, can that really stay there as it is? how do you invest in credit in that environment? howard: you have to say i do not know what the price is going to years,he next month or but i am willing to take some here. it may go lower but it may not. if it goes lower, i will do some more. jon: are you doing this, howard? howard: in modest amounts. this is the bottom on oil and i will put in all my chips here. there is no justification for doing that. i likefett says hamburgers, and when hamburgers go on sale, i.e. more hamburgers. when oil goes down 77% from its high, you are nutty if you do not take stock. stephanie: they got their doors blown off, and you blink your eye, and they are now at 20. howard: you just could not know. you could say we are not going to invest in oil at all and we do not know the price, or you could say it is down so we are going to do some. i think the latter is rea

. >> yeah bhp billiton is going to write down it's shale assets.parking speculation that they'll be forced to cut their dividend for the first time in more than 25 years. i'd like to know the yield right now because i bet it's a juicy one. 11.4%. they don't need to cut that. shares of -- you know what, larry, i'm going to put all my money -- why not get 11%. i'll put all my money there. >> it's oil companies too. >> someone yesterday was a 12% yield. if it's too good to be true, probably is. shares of dialogue semi-conductor rising in europe this morning. the company says it will not enter a bidding war for chip maker atmel. they called a proposal from microchip technology superior to the one it got from dialogue. in yahoo! investor canyon capital sending another letter to the company urging them to prioritize sales of its core business which we have been hearing. a portion of its assets to entire company and not waste any more capital on acquisitions. the company is a key supplier from apple. they blame weaker than expected demand and it's portabl