Qualcomm Incorporated today announced that Dr. Paul Jacobs will not be re-nominated to the Qualcomm Board of Directors at Qualcomm’s Annual Meeting of Stockholders on March 23, 2018. The Board reached that decision following his notification to the Board that he has decided to explore the possibility of making a proposal to acquire Qualcomm. Following the withdrawal of Broadcom’s takeover proposal, Qualcomm is focused on executing its business plan and maximizing value for shareholders as an independent company. Dr. Jacobs has been a valued employee and director of Qualcomm since 1990, rising to the level of Chief Executive Officer and Chairman of the Board, and he has been one of the great innovators in our industry.
Long-term U.S. mortgage rates fell this week for the first time this year as the spring home buying season begins. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year fixed-rate mortgages slipped to 4.44 percent from 4.46 percent last week. The benchmark rate averaged 4.30 percent a year ago.
Boeing lands in correction territory sinking more than 2 percent 13 Hours Ago | 02:19 Boeing is on track for its worst week in two years, and with so much political uncertainty surrounding trade policy, more pain could be ahead, according to one long-time market watcher. "The question is really not economic. It's political at this point," Boris Schlossberg, managing director of FX strategy at BK Asset Management, said on CNBC's "Trading Nation" on Wednesday. Boeing shares have been weighed down by a potential trade war between President Donald Trump and China. A proposed trade package imposing tariffs on $60 billion worth of China-made goods could spark retaliation from the world's second-largest
CNBC’s Sharon Epperson speaks with Diane Oakley, National Institute on Retirement Security executive director, about millennials facing problems with saving for retirement.
Reuters reports that Wells Fargo (WFC) is facing fresh sanctions after it tricked customers, this time in the auto sector. Regulators found that while Wells already requires its customers to have auto insurance, it was using a loophole to force more than half a million consumers who had a lapse in insurance, to double up and then made profits on those payments. Disney (DIS) is prepping for CEO Bob Iger’s retirement.
Companies from billionaire Kelcy Warren’s Energy Transfer Partners LP to pipeline giant Enterprise Products Partners LP issued a slew of statements following Thursday’s declines on Wall Street as they sought to downplay the significance of the Federal Energy Regulatory Commission’s ruling that master-limited partnerships can no longer get credit for income taxes they don’t actually pay. The affected assets are large, interstate pipelines that, generally speaking, were built in an era of little competition in shipping America’s fossil fuels -- back when government oversight of shipping rates was essential. “The initial sell off was an overreaction that assumed all pipelines in the U.S. are FERC-regulated and that their cash flows were immediately going to fall,” said Rob Thummel, managing partner at Tortoise Capital Advisors.
Former gambling mogul Steve Wynn and his ex-wife Elaine settled a six-year-long dispute over who controls their shares in the casino company they once ran, freeing both to sell the stock. Wynn Resorts Ltd. said in a filing Thursday that the pair, who together control 21 percent of the company, have told a Las Vegas court they no longer consider a 2010 stockholder agreement valid. The filing also said Steve Wynn may seek to sell all or a portion of his shares.
Semiconductor giant Broadcom Ltd. (AVGO) is still on the M&A hunt after withdrawing its hostile takeover bid for Qualcomm Inc. (QCOM) in the face of opposition on national security grounds from President Trump. "We don't see this week's events putting
On Wednesday evening, the Senate passed a bill that would roll back some banking regulations. Indirectly, the bill addresses Equifax’s historic data breach in which Social Security numbers and other personal data of 150 million people were exposed — a number that comprises well over half the U.S.’s adult population. Mark Warner (D-Virg.) and Elizabeth Warren (D-Mass.) had put forth a bill in January that would hold credit reporting agencies responsible for breaches, it did not progress and Congress had failed to issue a legislative response to the Equifax breach.
There are still relatively few women who are CEOs of companies in almost all industries — with one major exception. Women CEOs are leading the way in the nonprofit world and, in some areas, they outnumber male CEOs. • Women in 2015 made up 57% of the CEOs of nonprofits with an annual budget of less than $250,000, up from 53% in 2005.
Temperatures near negative 24 degrees celsius in Yakutia, the coldest region in Russia, are not putting off would-be treasure hunters who literally saw gold fall from the sky on Thursday. A nine-ton treasure of gold and silver alloy called doré bars fell from the back of an AN-12 cargo plane flying from Yakutsk to Krasnoyarsk in an area largely at and around the airport, the Siberian Times reported.
The U.S. Treasury has been stealthily weakening the dollar. It isn’t clear if it is doing so consciously, but since a weaker dollar suits Treasury leadership, there probably isn’t too much concern. The key is that the Treasury is flooding the market with short-term debt that neither domestic nor foreign investors are very interested in buying.
For President Trump, quashing the deal would be a victory against nemesis CNN, which is part of Time Warner. Opening statements begin March 21 in the U.S. District Court for the District of Columbia. Why is the government suing AT&T?
A tax ruling triggered a selloff in MLP exchange-traded funds and MLPs on Thursday, with the headwinds spilling over to the broader energy sector as midstream companies bore the brunt of the losses. The Federal Energy Regulatory Commission said Thursday it will no longer allow master limited partnership natural gas and oil pipelines to recover an income tax allowance in cost-of-service rates. Among MLPs, steepest losses included those of Plains All American Pipeline LP (PAA) and Energy Transfer Partners LP.
(1:20) - United Airlines Pet Failures (9:00) - Apple Acquires Digital Magazine Texture: Apple Services Growth(13:20) - Ford Vehicle Recall and Analyst Upgrade(16:00) - Weekly White House Drama(21:00) - Episode Roundup: Podcast@Zacks.comOn today’s episode
It has been about a month since the last earnings report for Williams Companies, Inc. WMB. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Williams Companies reported adjusted earnings from continuing operations of 20 cents per share in line with the Zacks Consensus Estimate.
Goldman tells its clients to buy high growth companies at reasonable valuations.
As the 950-ton concrete bridge section was swung into place over a highway last weekend, Florida International University officials were beaming with pride. The pedestrian bridge on the edge of the Miami-area campus was a signature achievement of the school's Accelerated Bridge Construction University Transportation Center, a research group set up with federal funding a few years ago to show how spans could be built faster and cheaper in the U.S. "FIU is about building bridges and student safety.
Stocks pare gains as the Mueller investigation reportedly targets the Trump Organization. Plus, we have after-hours earnings with Broadcom, Adobe, and Overstock.com all coming up. And Spotify’s NYSE listing now has a date, but it still isn’t like any
March 15, 2018 – Today, Zacks Equity Research discusses the Industry: Chemicals, Part 2, including DowDuPont Inc. DWDP, Albemarle Corporation ALB and Monsanto Company MON. The chemical industry has gotten its mojo back on strength across major end-markets and a resurgent world economy. Despite a few industry-related and macroeconomic headwinds, there are a number of reasons to be optimistic about the broader chemical industry for both the short and long haul.
The harsh, brutal reality about Sears: Read this bit of PR from Sears (SHLD) CEO/money manager/failed strategy man Eddie Lampert to employees and you would think the former retail icon is crushing it. "We are encouraged by the progress we are seeing and remain committed to our strategy to restore Sears Holdings to profitability so we can continue to serve our members for years to come," Lampert said in a blog post after releasing "earnings" on Wednesday. Review Sears' financial filing, and a person with an untrained eye would think, "Heck yeah, Sears is going to pull off the miraculous recovery Toys 'R' Us and Circuit City couldn't." But as TheStreet dove into Sears' results (on our 12th cup
Cisco Systems, Inc. (NASDAQ:CSCO) is up around 11% since it announced earnings in February, bringing its market cap to $218 billion. Could CSCO stock be trading like a tech stock again? For most of the 2010s, Cisco has been trading like an income stock, something you buy for its dividend yield.
Goldman Sachs on Friday reported a mean gender pay gap in Britain for its international business of 55.5 percent and a mean bonus gap for the unit of 72.2 percent. Thousands of large UK employers have been ordered to disclose their gender pay gaps by April, almost 50 years on from the passage of Britain's equal pay act. Goldman Sachs said its gap reflected the fact that there were more men than women in senior positions at the firm.
The demise of Toys R Us will have a ripple effect on everything from toy makers to consumers to landlords. The closing of the company's U.S. stores over the coming months will finalize the downfall of the chain that succumbed to heavy debt and relentless trends that undercut its business, from online shopping to mobile games. CEO David Brandon told employees Wednesday the company's plan is to liquidate all of its U.S. stores, according to an audio recording of the meeting obtained by The Associated Press.
Caterpillar Inc will close two facilities in Texas and Panama and is also considering shutting its engine manufacturing plant in Illinois as part of a strategy to boost profitability and better handle business cycles, but the move could cut 880 jobs. The plant closures, which were announced internally over the past two months, were confirmed to Reuters by a company spokeswoman on Friday. Chastised by the sales slump, the Deerfield, Illinois-based company has embarked upon a restructuring strategy, looking to squeeze more production out of its existing factories, focusing on lean manufacturing, margin expansion and asset efficiency.